Gradient Capital Advisors LLC Invests $344,000 in Bristol-Myers Squibb (NYSE:BMY)

Gradient Capital Advisors LLC acquired a new position in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,833 shares of the biopharmaceutical company’s stock, valued at approximately $344,000.

Other large investors have also modified their holdings of the company. Xponance Inc. boosted its stake in shares of Bristol-Myers Squibb by 28.0% during the 3rd quarter. Xponance Inc. now owns 219,534 shares of the biopharmaceutical company’s stock worth $15,607,000 after acquiring an additional 47,993 shares in the last quarter. Grimes & Company Inc. lifted its holdings in shares of Bristol-Myers Squibb by 1.6% in the third quarter. Grimes & Company Inc. now owns 295,464 shares of the biopharmaceutical company’s stock valued at $21,005,000 after purchasing an additional 4,778 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Bristol-Myers Squibb by 3.9% during the second quarter. Brown Advisory Inc. now owns 256,514 shares of the biopharmaceutical company’s stock valued at $18,237,000 after buying an additional 9,635 shares in the last quarter. Cliftonlarsonallen Wealth Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 2.2% during the third quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 12,366 shares of the biopharmaceutical company’s stock valued at $879,000 after buying an additional 261 shares in the last quarter. Finally, Advocate Group LLC grew its holdings in shares of Bristol-Myers Squibb by 9.0% during the third quarter. Advocate Group LLC now owns 97,286 shares of the biopharmaceutical company’s stock valued at $6,916,000 after buying an additional 7,998 shares in the last quarter. 75.51% of the stock is owned by institutional investors.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded up $0.09 during trading hours on Wednesday, reaching $72.43. 781,493 shares of the company were exchanged, compared to its average volume of 8,047,362. The firm has a market cap of $154.00 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 1.63 and a beta of 0.44. The company has a current ratio of 1.42, a quick ratio of 1.31 and a debt-to-equity ratio of 1.13. The stock has a 50-day moving average of $75.32 and a 200 day moving average of $73.70. Bristol-Myers Squibb has a 12 month low of $61.86 and a 12 month high of $81.43.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last announced its earnings results on Tuesday, October 25th. The biopharmaceutical company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.16. The firm had revenue of $11.22 billion during the quarter, compared to analysts’ expectations of $11.18 billion. Bristol-Myers Squibb had a return on equity of 50.30% and a net margin of 14.29%. The company’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.00 earnings per share. As a group, research analysts anticipate that Bristol-Myers Squibb will post 7.61 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Friday, January 6th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, January 5th. This represents a $2.28 dividend on an annualized basis and a yield of 3.15%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.54. Bristol-Myers Squibb’s dividend payout ratio is presently 74.27%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group reiterated a “buy” rating and set a $85.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, September 27th. Cantor Fitzgerald assumed coverage on Bristol-Myers Squibb in a report on Tuesday, January 17th. They set an “overweight” rating and a $95.00 price target on the stock. Barclays lowered their price target on Bristol-Myers Squibb from $69.00 to $66.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 12th. Atlantic Securities lifted their price target on Bristol-Myers Squibb from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, November 10th. Finally, Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $70.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.60.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Rupert Vessey sold 45,910 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $78.88, for a total transaction of $3,621,380.80. Following the completion of the transaction, the executive vice president now directly owns 57,079 shares in the company, valued at $4,502,391.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Rupert Vessey sold 45,910 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $78.88, for a total transaction of $3,621,380.80. Following the completion of the transaction, the executive vice president now directly owns 57,079 shares in the company, valued at $4,502,391.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ann Powell sold 16,250 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $80.45, for a total value of $1,307,312.50. Following the transaction, the executive vice president now owns 34,226 shares of the company’s stock, valued at $2,753,481.70. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Company Profile

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Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.