First Trust Direct Indexing L.P. Buys 11,831 Shares of Bristol-Myers Squibb (NYSE:BMY)

First Trust Direct Indexing L.P. lifted its stake in Bristol-Myers Squibb (NYSE:BMY) by 54.8% during the third quarter, HoldingsChannel reports. The firm owned 33,428 shares of the biopharmaceutical company’s stock after purchasing an additional 11,831 shares during the period. First Trust Direct Indexing L.P.’s holdings in Bristol-Myers Squibb were worth $1,730,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb in the first quarter worth about $27,000. LGT Financial Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 42.7% in 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. ORG Wealth Partners LLC bought a new position in Bristol-Myers Squibb during the 3rd quarter worth about $34,000. MFA Wealth Advisors LLC bought a new position in Bristol-Myers Squibb during the 2nd quarter worth about $39,000. Finally, Beach Investment Counsel Inc. PA bought a new position in Bristol-Myers Squibb during the 2nd quarter worth about $42,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock opened at $55.74 on Friday. The firm has a market capitalization of $113.01 billion, a P/E ratio of -17.10, a PEG ratio of 13.75 and a beta of 0.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The company has a 50 day moving average price of $51.14 and a 200 day moving average price of $46.54. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $56.20.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -73.62%.

Analyst Ratings Changes

Several research analysts have issued reports on BMY shares. Jefferies Financial Group increased their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Barclays increased their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Finally, UBS Group raised their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $52.38.

Bristol-Myers Squibb Company 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.