Avaii Wealth Management LLC Grows Position in Bristol-Myers Squibb (NYSE:BMY)

Avaii Wealth Management LLC increased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 18.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,120 shares of the biopharmaceutical company’s stock after buying an additional 1,899 shares during the quarter. Avaii Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $627,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at approximately $27,000. LGT Financial Advisors LLC grew its holdings 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 acquiring an additional 227 shares during the period. ORG Wealth Partners LLC acquired a new position in Bristol-Myers Squibb during the third quarter worth $34,000. MFA Wealth Advisors LLC acquired a new position in Bristol-Myers Squibb during the second quarter worth $39,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in Bristol-Myers Squibb during the second quarter worth $42,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 0.7 %

NYSE:BMY traded down $0.37 on Thursday, hitting $53.00. 1,656,736 shares of the stock were exchanged, compared to its average volume of 14,758,004. The stock has a market cap of $107.44 billion, a PE ratio of -17.22, a PEG ratio of 13.75 and a beta of 0.46. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The stock has a fifty day moving average of $50.10 and a 200-day moving average of $46.37. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $57.59.

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

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.53%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BMY. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research report on Thursday. They set a “market perform” rating and a $56.00 target price on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Barclays boosted their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Jefferies Financial Group boosted their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, UBS Group boosted their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $53.20.

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.