Benchmark Financial Wealth Advisors LLC Increases Stake in Bristol-Myers Squibb (NYSE:BMY)

by · The Cerbat Gem

Benchmark Financial Wealth Advisors LLC grew its holdings in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,550 shares of the biopharmaceutical company’s stock after purchasing an additional 933 shares during the quarter. Benchmark Financial Wealth Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,012,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BMY. Norden Group LLC raised its position in shares of Bristol-Myers Squibb by 30.2% in the first quarter. Norden Group LLC now owns 13,846 shares of the biopharmaceutical company’s stock valued at $751,000 after buying an additional 3,213 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Bristol-Myers Squibb in the first quarter valued at approximately $240,000. Avidian Wealth Solutions LLC raised its holdings in Bristol-Myers Squibb by 5.9% in the first quarter. Avidian Wealth Solutions LLC now owns 6,369 shares of the biopharmaceutical company’s stock valued at $345,000 after acquiring an additional 355 shares in the last quarter. Csenge Advisory Group raised its holdings in Bristol-Myers Squibb by 12.0% during the first quarter. Csenge Advisory Group now owns 9,484 shares of the biopharmaceutical company’s stock worth $514,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Howland Capital Management LLC raised its holdings in Bristol-Myers Squibb by 1.5% during the first quarter. Howland Capital Management LLC now owns 24,929 shares of the biopharmaceutical company’s stock worth $1,352,000 after purchasing an additional 364 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BMY. BMO Capital Markets lifted their price objective on shares of Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Citigroup downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the company from $75.00 to $55.00 in a research note on Friday, October 25th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Barclays upped their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Finally, Jefferies Financial Group increased their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $53.00.

View Our Latest Stock Report on BMY

Bristol-Myers Squibb Trading Up 0.9 %

NYSE:BMY opened at $55.96 on Wednesday. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $56.28. The company has a market cap of $113.50 billion, a P/E ratio of -15.59, a P/E/G ratio of 13.14 and a beta of 0.44. The stock’s fifty day moving average price is $51.56 and its two-hundred day moving average price is $46.66.

Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same period last year, the business earned $2.00 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. As a group, analysts expect that Bristol-Myers Squibb will post 0.83 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.29%. Bristol-Myers Squibb’s payout ratio is currently -66.85%.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

About Bristol-Myers Squibb

(Free Report)

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.

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