Kestra Advisory Services LLC Raises Stake in Bristol-Myers Squibb (NYSE:BMY)

Kestra Advisory Services LLC increased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 15.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 221,492 shares of the biopharmaceutical company’s stock after purchasing an additional 30,297 shares during the period. Kestra Advisory Services LLC’s holdings in Bristol-Myers Squibb were worth $12,011,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Traynor Capital Management Inc. raised its position in Bristol-Myers Squibb by 2.8% during the first quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock valued at $416,000 after purchasing an additional 207 shares during the period. Fulton Breakefield Broenniman LLC raised its position in Bristol-Myers Squibb by 4.6% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 4,744 shares of the biopharmaceutical company’s stock valued at $243,000 after purchasing an additional 209 shares during the period. Accurate Wealth Management LLC raised its holdings in shares of Bristol-Myers Squibb by 4.0% in the first quarter. Accurate Wealth Management LLC now owns 5,612 shares of the biopharmaceutical company’s stock worth $304,000 after buying an additional 216 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in shares of Bristol-Myers Squibb by 12.8% in the first quarter. Newbridge Financial Services Group Inc. now owns 1,910 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 216 shares during the period. Finally, Bfsg LLC raised its holdings in shares of Bristol-Myers Squibb by 24.4% in the first quarter. Bfsg LLC now owns 1,120 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 220 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.3 %

BMY stock traded up $0.14 on Monday, hitting $50.59. 2,937,087 shares of the company’s stock were exchanged, compared to its average volume of 15,828,417. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.41. The firm has a 50 day moving average price of $41.76 and a two-hundred day moving average price of $46.76. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The stock has a market cap of $102.55 billion, a P/E ratio of -16.27, a price-to-earnings-growth ratio of 17.25 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 11.52% and a negative net margin of 14.06%. The firm 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 business earned $1.75 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities research analysts expect that Bristol-Myers Squibb will post 0.59 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 4.74%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Wall Street Analyst Weigh In

BMY has been the topic of several research analyst reports. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. BMO Capital Markets dropped their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Finally, Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $55.79.

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.