Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by AdvisorNet Financial Inc

AdvisorNet Financial Inc grew its stake in Bristol-Myers Squibb (NYSE:BMY) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,452 shares of the biopharmaceutical company’s stock after purchasing an additional 2,073 shares during the quarter. AdvisorNet Financial Inc’s holdings in Bristol-Myers Squibb were worth $1,472,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Traynor Capital Management Inc. lifted its position in Bristol-Myers Squibb by 2.8% during the first quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock valued at $416,000 after buying an additional 207 shares in the last quarter. Fulton Breakefield Broenniman LLC lifted its holdings in shares of Bristol-Myers Squibb by 4.6% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 4,744 shares of the biopharmaceutical company’s stock valued at $243,000 after acquiring an additional 209 shares in the last quarter. Accurate Wealth Management LLC boosted its position in Bristol-Myers Squibb by 4.0% during the 1st quarter. Accurate Wealth Management LLC now owns 5,612 shares of the biopharmaceutical company’s stock worth $304,000 after purchasing an additional 216 shares during the period. Newbridge Financial Services Group Inc. raised its position in Bristol-Myers Squibb by 12.8% in the first quarter. Newbridge Financial Services Group Inc. now owns 1,910 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 216 shares during the period. Finally, Bfsg LLC lifted its stake in shares of Bristol-Myers Squibb by 24.4% during the first quarter. Bfsg LLC now owns 1,120 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BMY shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Barclays lowered shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price objective on the stock. in a report on Monday, July 29th. Cantor Fitzgerald restated a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. TD Cowen boosted their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday. Finally, BMO Capital Markets lowered their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $54.86.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded up $0.53 during mid-day trading on Thursday, hitting $48.94. 8,680,669 shares of the company’s stock traded hands, compared to its average volume of 15,884,247. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.41. The firm has a 50 day moving average price of $43.42 and a 200 day moving average price of $46.59. The company has a market cap of $99.21 billion, a PE ratio of -15.80, a price-to-earnings-growth ratio of 12.51 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. Bristol-Myers Squibb’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.75 EPS. On average, equities analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a dividend of $0.60 per share. The ex-dividend date was Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 4.90%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.