Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Arlington Partners LLC

Arlington Partners LLC increased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 16.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 90,797 shares of the biopharmaceutical company’s stock after acquiring an additional 12,491 shares during the quarter. Bristol-Myers Squibb makes up 1.8% of Arlington Partners LLC’s portfolio, making the stock its 4th biggest holding. Arlington Partners LLC’s holdings in Bristol-Myers Squibb were worth $4,698,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Global Assets Advisory LLC purchased a new position in shares of Bristol-Myers Squibb in the first quarter valued at approximately $5,161,000. Lincoln National Corp boosted its stake in shares of Bristol-Myers Squibb by 7.7% in the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after purchasing an additional 3,052 shares during the period. Chapin Davis Inc. boosted its stake in shares of Bristol-Myers Squibb by 22.6% in the first quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock valued at $1,223,000 after purchasing an additional 4,159 shares during the period. Accel Wealth Management boosted its stake in shares of Bristol-Myers Squibb by 19.0% in the first quarter. Accel Wealth Management now owns 4,934 shares of the biopharmaceutical company’s stock valued at $268,000 after purchasing an additional 788 shares during the period. Finally, Brookstone Capital Management lifted its stake in Bristol-Myers Squibb by 36.4% in the first quarter. Brookstone Capital Management now owns 150,037 shares of the biopharmaceutical company’s stock worth $8,137,000 after acquiring an additional 40,018 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday. Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research note on Thursday. They issued a “market perform” rating and a $56.00 price target for the company. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $53.20.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock traded down $0.72 during trading on Monday, reaching $52.50. The company’s stock had a trading volume of 1,755,749 shares, compared to its average volume of 14,688,037. The company has a 50-day moving average price of $50.36 and a two-hundred day moving average price of $46.33. The firm has a market cap of $106.42 billion, a PE ratio of -17.17, a P/E/G ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $56.77. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.57%. Bristol-Myers Squibb’s payout ratio is -77.42%.

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.