Wellington Shields Capital Management LLC Buys 341 Shares of Bristol-Myers Squibb (NYSE:BMY)

Wellington Shields Capital Management LLC lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,741 shares of the biopharmaceutical company’s stock after purchasing an additional 341 shares during the period. Wellington Shields Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $321,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Slocum Gordon & Co LLP raised its position in Bristol-Myers Squibb by 8.0% during the second quarter. Slocum Gordon & Co LLP now owns 4,854 shares of the biopharmaceutical company’s stock worth $202,000 after acquiring an additional 360 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Bristol-Myers Squibb by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 587,570 shares of the biopharmaceutical company’s stock valued at $24,402,000 after purchasing an additional 3,662 shares during the period. Victory Capital Management Inc. lifted its stake in Bristol-Myers Squibb by 5.1% in the 2nd quarter. Victory Capital Management Inc. now owns 3,781,396 shares of the biopharmaceutical company’s stock valued at $157,041,000 after purchasing an additional 185,100 shares during the last quarter. LGT Financial Advisors LLC grew its holdings in Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the period. Finally, Kornitzer Capital Management Inc. KS grew its holdings in Bristol-Myers Squibb by 3.1% during the second quarter. Kornitzer Capital Management Inc. KS now owns 290,347 shares of the biopharmaceutical company’s stock worth $12,058,000 after purchasing an additional 8,768 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded down $0.03 during trading on Friday, hitting $49.77. The company had a trading volume of 476,227 shares, compared to its average volume of 15,247,377. The stock’s 50-day moving average price is $45.80 and its 200 day moving average price is $46.61. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.42. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The firm has a market capitalization of $100.89 billion, a P/E ratio of -16.06, a price-to-earnings-growth ratio of 12.92 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share 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 firm had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same period in the prior year, the company posted $1.75 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. Equities analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of recent analyst reports. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Barclays raised their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Jefferies Financial Group upped their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Cantor Fitzgerald restated a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. Finally, TD Cowen upped 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 note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $54.67.

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.