TRUE Private Wealth Advisors Increases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

TRUE Private Wealth Advisors raised its holdings in Bristol-Myers Squibb (NYSE:BMY) by 14.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,673 shares of the biopharmaceutical company’s stock after purchasing an additional 1,375 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Bristol-Myers Squibb were worth $713,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. OLD Mission Capital LLC purchased a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $234,000. Signet Financial Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $207,000. Capital Investment Advisory Services LLC raised its position in shares of Bristol-Myers Squibb by 55.7% during the 1st quarter. Capital Investment Advisory Services LLC now owns 19,743 shares of the biopharmaceutical company’s stock worth $1,246,000 after purchasing an additional 7,064 shares during the last quarter. Destination Wealth Management acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $314,000. Finally, Wade G W & Inc. raised its position in shares of Bristol-Myers Squibb by 14.5% during the 1st quarter. Wade G W & Inc. now owns 27,287 shares of the biopharmaceutical company’s stock worth $1,723,000 after purchasing an additional 3,454 shares during the last quarter. 72.10% of the stock is currently owned by institutional investors.

Shares of NYSE BMY traded up $0.01 during trading on Wednesday, hitting $62.12. 20,016 shares of the company traded hands, compared to its average volume of 10,518,307. Bristol-Myers Squibb has a 1 year low of $56.75 and a 1 year high of $69.75. The company has a 50-day moving average price of $67.09 and a 200-day moving average price of $65.36. The firm has a market capitalization of $138.04 billion, a P/E ratio of -27.36, a P/E/G ratio of 1.20 and a beta of 0.61. The company has a quick ratio of 1.42, a current ratio of 1.54 and a debt-to-equity ratio of 1.15.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Tuesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.89 by $0.04. Bristol-Myers Squibb had a negative net margin of 11.44% and a positive return on equity of 37.76%. The company had revenue of $11.70 billion during the quarter, compared to analysts’ expectations of $11.24 billion. Research analysts predict that Bristol-Myers Squibb will post 7.46 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Investors of record on Friday, October 1st will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, September 30th. This represents a $1.96 dividend on an annualized basis and a yield of 3.16%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 30.43%.

In related news, CFO David V. Elkins sold 99,691 shares of the company’s stock in a transaction on Thursday, August 12th. The shares were sold at an average price of $66.95, for a total transaction of $6,674,312.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Several brokerages recently issued reports on BMY. Morgan Stanley lifted their price objective on Bristol-Myers Squibb from $62.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 29th. Truist began coverage on Bristol-Myers Squibb in a research report on Wednesday, July 28th. They set a “buy” rating and a $74.00 price objective for the company. Truist Securities initiated coverage on Bristol-Myers Squibb in a research report on Wednesday, July 28th. They set a “buy” rating and a $74.00 price objective for the company. Finally, Bank of America reiterated a “buy” rating on shares of Bristol-Myers Squibb in a report on Wednesday, July 28th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $73.83.

About Bristol-Myers Squibb

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.

Recommended Story: Dividend Kings

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb (NYSE:BMY).

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

Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.