Wealth Alliance Advisory Group LLC Acquires 10,831 Shares of Bristol-Myers Squibb (NYSE:BMY)

by · The Markets Daily

Wealth Alliance Advisory Group LLC lifted its stake in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 159.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,640 shares of the biopharmaceutical company’s stock after buying an additional 10,831 shares during the period. Wealth Alliance Advisory Group LLC’s holdings in Bristol-Myers Squibb were worth $913,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of BMY. Capital International Investors increased its stake in Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after purchasing an additional 8,675,322 shares during the period. Primecap Management Co. CA increased its stake in shares of Bristol-Myers Squibb by 1.0% in the second quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock worth $975,897,000 after buying an additional 225,197 shares during the period. Legal & General Group Plc raised its holdings in Bristol-Myers Squibb by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock valued at $839,946,000 after buying an additional 735,613 shares during the last quarter. Independent Franchise Partners LLP boosted its position in Bristol-Myers Squibb by 4.0% during the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock valued at $606,364,000 after buying an additional 556,295 shares during the period. Finally, Pzena Investment Management LLC grew its holdings in Bristol-Myers Squibb by 15.0% in the 2nd quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock worth $586,999,000 after acquiring an additional 1,840,424 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $53.22 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The stock has a market cap of $107.88 billion, a P/E ratio of -17.17, a P/E/G ratio of 13.75 and a beta of 0.46. The business’s 50 day moving average price is $50.36 and its 200-day moving average price is $46.37. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $57.09.

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

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.51%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Wall Street Analyst Weigh In

BMY has been the subject of a number of analyst reports. TD Cowen increased their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. UBS Group lifted their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a report on Thursday. They set a “market perform” rating and a $56.00 target price for the company. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Barclays boosted their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $53.20.

Read Our Latest Stock Analysis on BMY

Bristol-Myers Squibb Profile

(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.

Further Reading

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