Five Oceans Advisors Buys 172 Shares of Bristol-Myers Squibb (NYSE:BMY)

Five Oceans Advisors grew its stake in shares of Bristol-Myers Squibb (NYSE:BMYGet Rating) by 3.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,621 shares of the biopharmaceutical company’s stock after buying an additional 172 shares during the period. Five Oceans Advisors’ holdings in Bristol-Myers Squibb were worth $356,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cahaba Wealth Management Inc. grew its stake in shares of Bristol-Myers Squibb by 2.5% in the first quarter. Cahaba Wealth Management Inc. now owns 5,391 shares of the biopharmaceutical company’s stock valued at $405,000 after buying an additional 132 shares in the last quarter. Resonant Capital Advisors LLC raised its stake in shares of Bristol-Myers Squibb by 0.3% during the second quarter. Resonant Capital Advisors LLC now owns 42,297 shares of the biopharmaceutical company’s stock valued at $3,280,000 after purchasing an additional 134 shares during the period. MV Capital Management Inc. lifted its position in shares of Bristol-Myers Squibb by 10.7% during the first quarter. MV Capital Management Inc. now owns 1,391 shares of the biopharmaceutical company’s stock worth $102,000 after purchasing an additional 135 shares in the last quarter. Sanders Morris Harris LLC boosted its stake in shares of Bristol-Myers Squibb by 0.3% in the first quarter. Sanders Morris Harris LLC now owns 40,501 shares of the biopharmaceutical company’s stock valued at $2,958,000 after purchasing an additional 137 shares during the period. Finally, Bernardo Wealth Planning LLC boosted its stake in shares of Bristol-Myers Squibb by 4.3% in the first quarter. Bernardo Wealth Planning LLC now owns 3,389 shares of the biopharmaceutical company’s stock valued at $247,000 after purchasing an additional 139 shares during the period. 76.54% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

BMY stock traded down $0.30 during midday trading on Friday, reaching $70.99. The company had a trading volume of 87,686 shares, compared to its average volume of 10,752,010. The firm has a market capitalization of $151.58 billion, a PE ratio of 23.68, a P/E/G ratio of 1.47 and a beta of 0.43. The stock has a 50 day moving average price of $72.13 and a 200 day moving average price of $74.01. Bristol-Myers Squibb has a fifty-two week low of $53.22 and a fifty-two week high of $80.59. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.14.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. Bristol-Myers Squibb had a return on equity of 49.31% and a net margin of 14.04%. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.50 billion. During the same quarter in the previous year, the firm posted $1.93 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts anticipate that Bristol-Myers Squibb will post 7.5 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Thursday, October 6th. Bristol-Myers Squibb’s payout ratio is 71.76%.

Insiders Place Their Bets

In related news, CEO Giovanni Caforio sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $71.84, for a total value of $3,592,000.00. Following the completion of the sale, the chief executive officer now owns 501,104 shares of the company’s stock, valued at $35,999,311.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Ann Powell sold 25,000 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $70.75, for a total transaction of $1,768,750.00. Following the transaction, the executive vice president now directly owns 50,476 shares in the company, valued at approximately $3,571,177. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Giovanni Caforio sold 50,000 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $71.84, for a total value of $3,592,000.00. Following the completion of the sale, the chief executive officer now owns 501,104 shares of the company’s stock, valued at approximately $35,999,311.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 233,951 shares of company stock worth $16,654,206. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent analyst reports. Berenberg Bank lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and cut their price objective for the stock from $82.00 to $76.00 in a report on Wednesday, September 14th. Bank of America increased their price target on Bristol-Myers Squibb from $78.00 to $80.00 and gave the company a “buy” rating in a report on Monday, June 6th. Citigroup reaffirmed a “buy” rating and issued a $90.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, June 3rd. Atlantic Securities raised their price target on shares of Bristol-Myers Squibb from $83.00 to $87.00 and gave the stock an “overweight” rating in a research report on Monday, September 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of Bristol-Myers Squibb from $80.00 to $85.00 in a report on Thursday, July 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.36.

Bristol-Myers Squibb Profile

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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

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