PBMares Wealth Management LLC Invests $244,000 in Bristol Myers Squibb Company (NYSE:BMY)

PBMares Wealth Management LLC bought a new position in shares of Bristol Myers Squibb Company (NYSE:BMY) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,008 shares of the biopharmaceutical company’s stock, valued at approximately $244,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in Bristol Myers Squibb in the 4th quarter valued at about $1,989,525,000. Ameriprise Financial Inc. lifted its holdings in Bristol Myers Squibb by 59.9% in the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock valued at $1,814,341,000 after acquiring an additional 12,011,983 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Bristol Myers Squibb by 701.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company’s stock valued at $705,309,000 after acquiring an additional 10,913,708 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Bristol Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock valued at $338,088,000 after purchasing an additional 5,827,317 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Bristol Myers Squibb in the 4th quarter valued at $257,618,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol Myers Squibb Stock Up 0.2%

Shares of NYSE:BMY opened at $46.97 on Tuesday. The firm’s 50 day moving average price is $48.12 and its 200 day moving average price is $54.21. The stock has a market cap of $95.59 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 1.39 and a beta of 0.38. Bristol Myers Squibb Company has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.30. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The business had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same period last year, the business earned ($4.40) EPS. The company’s revenue was down 5.6% on a year-over-year basis. As a group, equities research analysts predict that Bristol Myers Squibb Company will post 6.74 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, August 1st. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.28%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

Insider Transactions at Bristol Myers Squibb

In related news, EVP Samit Hirawat acquired 4,250 shares of the business’s stock in a transaction on Friday, April 25th. The shares were bought at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the acquisition, the executive vice president now owns 83,513 shares in the company, valued at $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. William Blair restated a “market perform” rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Argus upgraded shares of Bristol Myers Squibb to a “hold” rating in a report on Friday, April 25th. UBS Group decreased their price target on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Finally, Wall Street Zen cut Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $58.00.

Bristol Myers Squibb 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.