Retirement Planning Co of New England Inc. Increases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Retirement Planning Co of New England Inc. raised its holdings in Bristol-Myers Squibb (NYSE:BMY) by 4.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,634 shares of the biopharmaceutical company’s stock after buying an additional 418 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in Bristol-Myers Squibb were worth $442,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb in the 1st quarter worth approximately $27,000. LGT Financial Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 227 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the second quarter worth $39,000. Fairman Group LLC purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at $42,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $49.13 on Friday. The stock has a market capitalization of $99.61 billion, a price-to-earnings ratio of -15.85, a price-to-earnings-growth ratio of 12.59 and a beta of 0.46. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $60.55. The firm has a 50-day simple moving average of $46.79 and a 200-day simple moving average of $46.50. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.88%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Analyst Ratings Changes

A number of analysts have commented on BMY shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. TD Cowen upped their target price on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of 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. Jefferies Financial Group upped their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Two research analysts have 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $54.67.

Bristol-Myers Squibb Company Profile

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.