Old North State Wealth Management LLC Purchases 1,164 Shares of Bristol-Myers Squibb (NYSE:BMY)

Old North State Wealth Management LLC boosted its position in Bristol-Myers Squibb (NYSE:BMY) by 16.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,204 shares of the biopharmaceutical company’s stock after acquiring an additional 1,164 shares during the period. Old North State Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $425,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lincoln National Corp boosted its holdings in Bristol-Myers Squibb by 7.7% in the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock worth $2,326,000 after acquiring an additional 3,052 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Bristol-Myers Squibb by 3.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after purchasing an additional 206 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Bristol-Myers Squibb by 8.8% in the second quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock valued at $13,181,000 after purchasing an additional 25,543 shares in the last quarter. Plato Investment Management Ltd lifted its holdings in shares of Bristol-Myers Squibb by 25.4% in the second quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock valued at $4,317,000 after purchasing an additional 21,041 shares in the last quarter. Finally, Advisory Services Network LLC lifted its holdings in shares of Bristol-Myers Squibb by 47.0% in the first quarter. Advisory Services Network LLC now owns 119,423 shares of the biopharmaceutical company’s stock valued at $6,476,000 after purchasing an additional 38,163 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $54.32 on Monday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The business has a fifty day simple moving average of $51.26 and a two-hundred day simple moving average of $46.56. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $56.20. The company has a market capitalization of $110.13 billion, a P/E ratio of -15.13, a P/E/G ratio of 15.49 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.40% and a negative net margin of 15.30%. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same period last year, the company earned $2.00 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts expect that Bristol-Myers Squibb will post 0.72 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is currently -66.85%.

Analysts Set New Price Targets

BMY has been the topic of a number of recent research reports. Barclays raised their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. TD Cowen raised their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. Citigroup downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the company from $75.00 to $55.00 in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Finally, BMO Capital Markets increased their price target on Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $53.00.

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.