HBK Sorce Advisory LLC Purchases 2,232 Shares of Bristol Myers Squibb Company (NYSE:BMY)

HBK Sorce Advisory LLC grew its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 6.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,696 shares of the biopharmaceutical company’s stock after buying an additional 2,232 shares during the period. HBK Sorce Advisory LLC’s holdings in Bristol Myers Squibb were worth $2,238,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. LaFleur & Godfrey LLC increased its position in shares of Bristol Myers Squibb by 3.5% in the fourth quarter. LaFleur & Godfrey LLC now owns 43,551 shares of the biopharmaceutical company’s stock worth $2,463,000 after purchasing an additional 1,487 shares during the period. Brighton Jones LLC increased its position in shares of Bristol Myers Squibb by 33.4% in the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock worth $1,116,000 after purchasing an additional 4,935 shares during the period. Bank Pictet & Cie Europe AG bought a new position in shares of Bristol Myers Squibb in the fourth quarter worth $13,094,000. TCW Group Inc. increased its position in shares of Bristol Myers Squibb by 2.0% in the fourth quarter. TCW Group Inc. now owns 37,339 shares of the biopharmaceutical company’s stock worth $2,112,000 after purchasing an additional 721 shares during the period. Finally, Wealthspire Advisors LLC increased its position in shares of Bristol Myers Squibb by 0.6% in the fourth quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock worth $1,622,000 after purchasing an additional 170 shares during the period. Institutional investors own 76.41% of the company’s stock.

Insider Activity at Bristol Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the company’s stock in a transaction dated Friday, April 25th. The shares were bought at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the acquisition, the executive vice president now directly owns 83,513 shares of the company’s stock, 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. 0.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Jefferies Financial Group decreased their price target on Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Argus upgraded Bristol Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Wall Street Zen cut Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Finally, UBS Group decreased their target price on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol Myers Squibb presently has an average rating of “Hold” and an average price target of $58.00.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock opened at $47.04 on Wednesday. Bristol Myers Squibb Company has a one year low of $39.35 and a one year high of $63.33. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. The stock’s 50 day moving average is $48.06 and its 200 day moving average is $54.16. The firm has a market cap of $95.72 billion, a P/E ratio of 17.62, a P/E/G ratio of 1.39 and a beta of 0.38.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.30. The firm had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The company’s revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($4.40) earnings per share. As a group, research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.27%. Bristol Myers Squibb’s dividend payout ratio is 92.88%.

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.