Marcum Wealth LLC Grows Stake in Bristol-Myers Squibb (NYSE:BMY)

Marcum Wealth LLC increased its stake in Bristol-Myers Squibb (NYSE:BMY) by 18.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,834 shares of the biopharmaceutical company’s stock after purchasing an additional 2,466 shares during the quarter. Marcum Wealth LLC’s holdings in Bristol-Myers Squibb were worth $658,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Hudson Valley Investment Advisors Inc. ADV raised its holdings in Bristol-Myers Squibb by 9.9% during the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 15,426 shares of the biopharmaceutical company’s stock valued at $641,000 after acquiring an additional 1,391 shares during the period. Old Port Advisors raised its stake in shares of Bristol-Myers Squibb by 1.1% during the first quarter. Old Port Advisors now owns 39,490 shares of the biopharmaceutical company’s stock valued at $2,142,000 after acquiring an additional 419 shares in the last quarter. Abich Financial Wealth Management LLC raised its stake in Bristol-Myers Squibb by 53.2% in the first quarter. Abich Financial Wealth Management LLC now owns 2,979 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 1,035 shares in the last quarter. Keynote Financial Services LLC bought a new position in Bristol-Myers Squibb in the first quarter worth approximately $1,505,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Bristol-Myers Squibb by 94.9% during the first quarter. EverSource Wealth Advisors LLC now owns 4,992 shares of the biopharmaceutical company’s stock worth $271,000 after purchasing an additional 2,431 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Stock Down 2.4 %

BMY stock traded down $1.17 during midday trading on Monday, hitting $47.60. The company’s stock had a trading volume of 17,878,345 shares, compared to its average volume of 15,981,216. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.41. The firm has a 50-day simple moving average of $42.39 and a 200-day simple moving average of $46.70. The firm has a market capitalization of $96.49 billion, a P/E ratio of -15.35, a PEG ratio of 12.51 and a beta of 0.44. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same period last year, the business earned $1.75 EPS. The company’s revenue was up 8.7% on a year-over-year basis. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a yield of 5.04%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BMY shares. Wells Fargo & Company boosted their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. BMO Capital Markets lowered their target price on shares of 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. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price 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.