Wealth Effects LLC Has $780,000 Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Wealth Effects LLC grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 38.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,077 shares of the biopharmaceutical company’s stock after acquiring an additional 4,150 shares during the period. Wealth Effects LLC’s holdings in Bristol-Myers Squibb were worth $780,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Castleview Partners LLC increased its stake in shares of Bristol-Myers Squibb by 765.7% during the third quarter. Castleview Partners LLC now owns 49,441 shares of the biopharmaceutical company’s stock worth $2,558,000 after purchasing an additional 43,730 shares during the period. Wealth Advisory Solutions LLC boosted its stake in Bristol-Myers Squibb by 15.2% in the 3rd quarter. Wealth Advisory Solutions LLC now owns 6,424 shares of the biopharmaceutical company’s stock valued at $332,000 after purchasing an additional 850 shares during the period. Arlington Partners LLC grew its holdings in Bristol-Myers Squibb by 16.0% in the 3rd quarter. Arlington Partners LLC now owns 90,797 shares of the biopharmaceutical company’s stock valued at $4,698,000 after buying an additional 12,491 shares in the last quarter. Trilogy Capital Inc. lifted its holdings in shares of Bristol-Myers Squibb by 0.6% during the third quarter. Trilogy Capital Inc. now owns 66,122 shares of the biopharmaceutical company’s stock worth $3,421,000 after buying an additional 419 shares in the last quarter. Finally, Brown Lisle Cummings Inc. boosted its position in shares of Bristol-Myers Squibb by 9.4% in the third quarter. Brown Lisle Cummings Inc. now owns 23,315 shares of the biopharmaceutical company’s stock valued at $1,206,000 after acquiring an additional 2,002 shares during the period. Institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research report on Thursday. They set a “market perform” rating and a $56.00 price target on the stock. UBS Group boosted their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Finally, Jefferies Financial Group increased their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $53.20.

Bristol-Myers Squibb Price Performance

NYSE:BMY traded down $0.80 on Monday, hitting $52.42. The company had a trading volume of 2,168,037 shares, compared to its average volume of 14,689,875. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $56.77. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $106.26 billion, a price-to-earnings ratio of -17.17, a PEG ratio of 13.75 and a beta of 0.46. The firm has a 50 day moving average of $50.36 and a two-hundred day moving average of $46.33.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. Bristol-Myers Squibb’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.75 EPS. On average, research analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

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.