Bristol-Myers Squibb (NYSE:BMY) Shares Acquired by Arkadios Wealth Advisors

Arkadios Wealth Advisors lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMYGet Rating) by 26.0% during the second quarter, Holdings Channel reports. The firm owned 17,460 shares of the biopharmaceutical company’s stock after buying an additional 3,608 shares during the period. Arkadios Wealth Advisors’ holdings in Bristol-Myers Squibb were worth $1,344,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mizuho Securities Co. Ltd. raised its position in shares of Bristol-Myers Squibb by 239.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 339 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 239 shares during the period. Spectrum Management Group LLC grew its holdings in Bristol-Myers Squibb by 113.1% in the 1st quarter. Spectrum Management Group LLC now owns 341 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 181 shares in the last quarter. Nauset Wealth Management. LLC bought a new position in Bristol-Myers Squibb in the 1st quarter worth approximately $27,000. Conrad Siegel Investment Advisors Inc. bought a new position in Bristol-Myers Squibb in the 1st quarter worth approximately $28,000. Finally, Evolution Advisers Inc. bought a new position in Bristol-Myers Squibb in the 1st quarter worth approximately $29,000. 76.54% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $71.29 on Friday. Bristol-Myers Squibb has a one year low of $53.22 and a one year high of $80.59. The stock has a fifty day moving average of $72.13 and a 200-day moving average of $74.01. The company has a market capitalization of $152.22 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 1.48 and a beta of 0.43. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.34 and a current ratio of 1.44.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The biopharmaceutical company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.50 billion. Bristol-Myers Squibb had a return on equity of 49.31% and a net margin of 14.04%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.93 EPS. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 7.5 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.03%. Bristol-Myers Squibb’s payout ratio is currently 71.76%.

Insider Activity

In other news, CEO Giovanni Caforio sold 25,000 shares of the stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $69.71, for a total value of $1,742,750.00. Following the completion of the sale, the chief executive officer now owns 476,104 shares in the company, valued at $33,189,209.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Giovanni Caforio sold 25,000 shares of the stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $69.71, for a total value of $1,742,750.00. Following the completion of the sale, the chief executive officer now owns 476,104 shares in the company, valued at $33,189,209.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David V. Elkins sold 133,951 shares of the stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $71.30, for a total value of $9,550,706.30. Following the completion of the sale, the chief financial officer now owns 100,460 shares of the company’s stock, valued at approximately $7,162,798. The disclosure for this sale can be found here. Insiders sold 233,951 shares of company stock worth $16,654,206 over the last quarter. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BMY. BMO Capital Markets increased their price objective on Bristol-Myers Squibb from $92.00 to $94.00 and gave the stock an “outperform” rating in a report on Monday, September 12th. JPMorgan Chase & Co. increased their price objective on Bristol-Myers Squibb from $80.00 to $85.00 in a report on Thursday, July 28th. Atlantic Securities increased their price objective on Bristol-Myers Squibb from $83.00 to $87.00 and gave the stock an “overweight” rating in a report on Monday, September 12th. Citigroup reaffirmed a “buy” rating and set a $90.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, June 3rd. Finally, Berenberg Bank lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and decreased their price target for the company from $82.00 to $76.00 in a research note on Wednesday, September 14th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb has an average rating of “Moderate Buy” and a consensus price target of $76.36.

About Bristol-Myers Squibb

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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