Hamel Associates Inc. Makes New Investment in Bristol Myers Squibb Company (NYSE:BMY)

Hamel Associates Inc. bought a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,602 shares of the biopharmaceutical company’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Thoroughbred Financial Services LLC grew its holdings in Bristol Myers Squibb by 1.1% during the 4th quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company’s stock worth $1,004,000 after acquiring an additional 190 shares in the last quarter. Marcum Wealth LLC boosted its stake in shares of Bristol Myers Squibb by 1.0% during the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company’s stock valued at $1,177,000 after buying an additional 193 shares during the period. Beacon Investment Advisory Services Inc. lifted its stake in shares of Bristol Myers Squibb by 2.7% in the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company’s stock worth $492,000 after buying an additional 212 shares during the last quarter. Providence Capital Advisors LLC grew its holdings in shares of Bristol Myers Squibb by 0.4% in the 4th quarter. Providence Capital Advisors LLC now owns 52,480 shares of the biopharmaceutical company’s stock worth $2,968,000 after purchasing an additional 221 shares during the last quarter. Finally, Nemes Rush Group LLC grew its holdings in Bristol Myers Squibb by 0.8% during the 4th quarter. Nemes Rush Group LLC now owns 27,027 shares of the biopharmaceutical company’s stock worth $1,529,000 after acquiring an additional 221 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Trading Down 0.2%

NYSE:BMY traded down $0.10 during midday trading on Thursday, reaching $48.88. 1,190,438 shares of the stock traded hands, compared to its average volume of 13,320,479. The company has a fifty day moving average of $47.57 and a 200 day moving average of $52.76. The stock has a market capitalization of $99.47 billion, a P/E ratio of 18.31, a PEG ratio of 2.51 and a beta of 0.36. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. Bristol Myers Squibb Company has a 12 month low of $44.00 and a 12 month high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.30. The firm had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($4.40) EPS. On average, research analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.07%. Bristol Myers Squibb’s dividend payout ratio is currently 92.88%.

Analysts Set New Price Targets

BMY has been the subject of several analyst reports. William Blair reissued a “market perform” rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Morgan Stanley lowered their price target on Bristol Myers Squibb from $36.00 to $34.00 and set an “underweight” rating for the company in a research report on Thursday, July 10th. Jefferies Financial Group decreased their price objective on Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Piper Sandler initiated coverage on Bristol Myers Squibb in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price target on the stock. Finally, UBS Group dropped their target price on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol Myers Squibb has an average rating of “Hold” and a consensus target price of $58.53.

Insider Buying and Selling

In other news, EVP Samit Hirawat bought 4,250 shares of the company’s stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the transaction, the executive vice president directly owned 83,513 shares in the company, valued at approximately $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.

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.