Lakeview Capital Partners LLC increased its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 217.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,378 shares of the biopharmaceutical company’s stock after purchasing an additional 20,807 shares during the period. Lakeview Capital Partners LLC’s holdings in Bristol-Myers Squibb were worth $1,378,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Kahn Brothers Group Inc. DE raised its holdings in Bristol-Myers Squibb by 101.9% in the 2nd quarter. Kahn Brothers Group Inc. DE now owns 1,018,280 shares of the biopharmaceutical company’s stock valued at $46,179,000 after acquiring an additional 513,930 shares during the last quarter. Magnus Financial Group LLC acquired a new position in Bristol-Myers Squibb in the 2nd quarter valued at $237,000. EULAV Asset Management raised its holdings in Bristol-Myers Squibb by 42.9% in the 2nd quarter. EULAV Asset Management now owns 100,000 shares of the biopharmaceutical company’s stock valued at $4,535,000 after acquiring an additional 30,000 shares during the last quarter. Vanguard Capital Wealth Advisors raised its holdings in Bristol-Myers Squibb by 5.2% in the 2nd quarter. Vanguard Capital Wealth Advisors now owns 18,759 shares of the biopharmaceutical company’s stock valued at $850,000 after acquiring an additional 931 shares during the last quarter. Finally, FLC Capital Advisors acquired a new position in Bristol-Myers Squibb in the 2nd quarter valued at $394,000. Hedge funds and other institutional investors own 80.11% of the company’s stock.
Shares of NYSE BMY traded up $0.15 during trading on Tuesday, hitting $47.61. 183,651 shares of the company traded hands, compared to its average volume of 14,823,283. Bristol-Myers Squibb Co has a 1 year low of $42.48 and a 1 year high of $63.69. The company has a 50-day moving average price of $45.44 and a 200-day moving average price of $47.45. The firm has a market capitalization of $76.85 billion, a P/E ratio of 11.96, a P/E/G ratio of 2.33 and a beta of 0.73. The company has a quick ratio of 3.75, a current ratio of 3.88 and a debt-to-equity ratio of 1.51.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 3.44%. Bristol-Myers Squibb’s dividend payout ratio is presently 41.21%.
In related news, Director Robert J. Bertolini acquired 11,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was bought at an average cost of $44.72 per share, with a total value of $491,920.00. Following the purchase, the director now directly owns 11,397 shares of the company’s stock, valued at $509,673.84. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is owned by insiders.
Several brokerages have weighed in on BMY. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Tuesday, May 7th. ValuEngine downgraded Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Argus downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price target for the company. in a report on Monday, May 20th. Atlantic Securities upgraded Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price target for the company in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. began coverage on Bristol-Myers Squibb in a report on Friday, May 3rd. They issued an “overweight” rating and a $62.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $55.88.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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