Sunbelt Securities Inc. Grows Stock Position in Bristol-Myers Squibb Co (NYSE:BMY)

Sunbelt Securities Inc. increased its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,830 shares of the biopharmaceutical company’s stock after buying an additional 246 shares during the quarter. Sunbelt Securities Inc.’s holdings in Bristol-Myers Squibb were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Bristol-Myers Squibb by 313.9% in the first quarter. FMR LLC now owns 40,851,887 shares of the biopharmaceutical company’s stock valued at $1,949,043,000 after buying an additional 30,981,844 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Bristol-Myers Squibb by 75.7% in the second quarter. Janus Henderson Group PLC now owns 16,156,559 shares of the biopharmaceutical company’s stock valued at $732,691,000 after buying an additional 6,960,047 shares in the last quarter. Norges Bank acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $797,038,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Bristol-Myers Squibb by 1.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,251,891 shares of the biopharmaceutical company’s stock valued at $328,873,000 after purchasing an additional 78,260 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in Bristol-Myers Squibb by 380.2% during the 1st quarter. Nordea Investment Management AB now owns 6,252,847 shares of the biopharmaceutical company’s stock valued at $298,324,000 after purchasing an additional 4,950,748 shares in the last quarter. Hedge funds and other institutional investors own 77.37% of the company’s stock.

A number of equities research analysts have weighed in on BMY shares. BMO Capital Markets raised their price objective on Bristol-Myers Squibb from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. ValuEngine lowered Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Atlantic Securities upgraded Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price objective for the company in a research note on Wednesday. Goldman Sachs Group started coverage on Bristol-Myers Squibb in a research note on Tuesday, May 28th. They set a “buy” rating and a $54.00 price objective for the company. Finally, Argus lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 price objective for the company. in a research note on Monday, May 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $55.88.

In related news, Director Robert J. Bertolini purchased 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were acquired at an average price of $44.72 per share, with a total value of $491,920.00. Following the acquisition, the director now owns 11,397 shares in the company, valued at approximately $509,673.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

NYSE:BMY traded up $0.26 during trading hours on Thursday, reaching $45.90. 3,284,016 shares of the stock were exchanged, compared to its average volume of 15,150,168. 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 company’s 50 day moving average is $45.29. Bristol-Myers Squibb Co has a 52 week low of $42.48 and a 52 week high of $63.69. The firm has a market cap of $76.06 billion, a PE ratio of 11.53, a P/E/G ratio of 2.30 and a beta of 0.73.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.12. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter last year, the business posted $1.01 EPS. Bristol-Myers Squibb’s quarterly revenue was up 10.0% compared to the same quarter last year. Research analysts predict that Bristol-Myers Squibb Co will post 4.26 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend was Wednesday, July 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 41.21%.

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.

Further Reading: The limitations of an equal weight rating

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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