Keudell Morrison Wealth Management Increases Stake in Bristol-Myers Squibb (NYSE:BMY)

Keudell Morrison Wealth Management grew its stake in Bristol-Myers Squibb (NYSE:BMY) by 6.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,703 shares of the biopharmaceutical company’s stock after purchasing an additional 1,458 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Bristol-Myers Squibb were worth $1,175,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BMY. Capital International Investors raised its holdings 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 in the last quarter. M&G Plc purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter valued at about $392,608,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Bristol-Myers Squibb by 77.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after acquiring an additional 5,461,767 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Bristol-Myers Squibb by 86.3% during the 2nd quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock valued at $313,398,000 after acquiring an additional 3,495,704 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter valued at about $158,223,000. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BMY. TD Cowen raised their price objective 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. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Jefferies Financial Group raised their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. BMO Capital Markets raised their price objective on shares of Bristol-Myers Squibb from $53.00 to $57.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Finally, Barclays raised their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $53.00.

Insider Activity

In other news, EVP Samit Hirawat bought 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Samit Hirawat bought 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.5 %

Shares of BMY stock traded down $0.30 on Thursday, hitting $54.98. The stock had a trading volume of 1,429,669 shares, compared to its average volume of 14,368,729. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The business has a 50 day moving average price of $51.69 and a 200 day moving average price of $46.72. The company has a market cap of $111.51 billion, a PE ratio of -15.40, a P/E/G ratio of 13.14 and a beta of 0.44. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $56.80.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -66.85%.

Bristol-Myers Squibb 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.