Arlington Partners LLC Has $3.25 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Arlington Partners LLC lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 25.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 78,306 shares of the biopharmaceutical company’s stock after buying an additional 15,773 shares during the quarter. Bristol-Myers Squibb comprises approximately 1.6% of Arlington Partners LLC’s investment portfolio, making the stock its 25th largest holding. Arlington Partners LLC’s holdings in Bristol-Myers Squibb were worth $3,252,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BMY. Northwest Financial Advisors acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $27,000. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $27,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $34,000. MFA Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth approximately $39,000. Finally, Fairman Group LLC acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BMY. TD Cowen lifted their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Jefferies Financial Group lifted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday. Barclays lifted their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $54.67.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY traded up $0.23 during mid-day trading on Friday, reaching $49.95. 9,594,794 shares of the company’s stock were exchanged, compared to its average volume of 11,841,427. The firm has a market capitalization of $101.27 billion, a price-to-earnings ratio of -16.11, a price-to-earnings-growth ratio of 12.92 and a beta of 0.44. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.03. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The firm has a 50-day moving average price of $45.17 and a two-hundred day moving average price of $46.57.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating 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 business had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same period in the previous year, the business posted $1.75 EPS. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.