Old North State Wealth Management LLC Acquires 1,164 Shares of Bristol-Myers Squibb (NYSE:BMY)

Old North State Wealth Management LLC boosted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 16.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,204 shares of the biopharmaceutical company’s stock after buying an additional 1,164 shares during the period. Old North State Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $425,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new stake in Bristol-Myers Squibb during the third quarter valued at $25,000. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb during the first quarter worth about $27,000. Valued Wealth Advisors LLC lifted its stake in Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in Bristol-Myers Squibb during the third quarter worth about $34,000. Finally, LGT Financial Advisors LLC lifted its stake in Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 2.6 %

Shares of NYSE:BMY opened at $54.32 on Monday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $56.20. The stock’s 50-day moving average is $51.26 and its 200 day moving average is $46.56. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The company has a market cap of $110.13 billion, a PE ratio of -15.13, a P/E/G ratio of 15.49 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.40% and a negative net margin of 15.30%. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the prior year, the business earned $2.00 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts anticipate that Bristol-Myers Squibb will post 0.72 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.42%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -66.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. TD Cowen lifted their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price objective on the stock. 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 report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. 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 stock. According to MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $53.00.

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.