Gradient Capital Advisors LLC Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

Gradient Capital Advisors LLC acquired a new position in shares of Bristol-Myers Squibb (NYSE:BMYGet Rating) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,833 shares of the biopharmaceutical company’s stock, valued at approximately $344,000.

Other hedge funds have also recently bought and sold shares of the company. Xponance Inc. raised its stake in Bristol-Myers Squibb by 28.0% during the third quarter. Xponance Inc. now owns 219,534 shares of the biopharmaceutical company’s stock worth $15,607,000 after acquiring an additional 47,993 shares in the last quarter. Grimes & Company Inc. raised its stake in Bristol-Myers Squibb by 1.6% during the third quarter. Grimes & Company Inc. now owns 295,464 shares of the biopharmaceutical company’s stock worth $21,005,000 after acquiring an additional 4,778 shares in the last quarter. Brown Advisory Inc. raised its stake in Bristol-Myers Squibb by 3.9% during the second quarter. Brown Advisory Inc. now owns 256,514 shares of the biopharmaceutical company’s stock worth $18,237,000 after acquiring an additional 9,635 shares in the last quarter. Cliftonlarsonallen Wealth Advisors LLC raised its stake in Bristol-Myers Squibb by 2.2% during the third quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 12,366 shares of the biopharmaceutical company’s stock worth $879,000 after acquiring an additional 261 shares in the last quarter. Finally, Advocate Group LLC grew its holdings in shares of Bristol-Myers Squibb by 9.0% during the third quarter. Advocate Group LLC now owns 97,286 shares of the biopharmaceutical company’s stock worth $6,916,000 after purchasing an additional 7,998 shares during the last quarter. 75.51% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Up 0.1 %

Shares of BMY traded up $0.09 on Wednesday, reaching $72.43. 781,493 shares of the company’s stock were exchanged, compared to its average volume of 8,047,362. The company has a current ratio of 1.42, a quick ratio of 1.31 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $154.00 billion, a P/E ratio of 23.56, a price-to-earnings-growth ratio of 1.63 and a beta of 0.44. The business has a 50 day moving average price of $75.32 and a two-hundred day moving average price of $73.70. Bristol-Myers Squibb has a 12 month low of $61.86 and a 12 month high of $81.43.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last posted its quarterly earnings results on Tuesday, October 25th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.16. Bristol-Myers Squibb had a net margin of 14.29% and a return on equity of 50.30%. The business had revenue of $11.22 billion during the quarter, compared to the consensus estimate of $11.18 billion. During the same period in the previous year, the firm posted $2.00 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was down 3.5% compared to the same quarter last year. Research analysts anticipate that Bristol-Myers Squibb will post 7.61 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Friday, January 6th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.15%. The ex-dividend date is Thursday, January 5th. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.54. Bristol-Myers Squibb’s dividend payout ratio is presently 74.27%.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Rupert Vessey sold 45,910 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $78.88, for a total value of $3,621,380.80. Following the completion of the sale, the executive vice president now owns 57,079 shares of the company’s stock, valued at $4,502,391.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Bristol-Myers Squibb news, EVP Rupert Vessey sold 45,910 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $78.88, for a total value of $3,621,380.80. Following the completion of the sale, the executive vice president now owns 57,079 shares of the company’s stock, valued at $4,502,391.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Powell sold 16,250 shares of the stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $80.45, for a total transaction of $1,307,312.50. Following the sale, the executive vice president now directly owns 34,226 shares of the company’s stock, valued at approximately $2,753,481.70. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BMY. Atlantic Securities increased their target price on Bristol-Myers Squibb from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, November 10th. Guggenheim cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating in a report on Monday, October 10th. StockNews.com began coverage on Bristol-Myers Squibb in a report on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Credit Suisse Group began coverage on Bristol-Myers Squibb in a report on Thursday, November 17th. They set a “neutral” rating and a $78.00 target price on the stock. Finally, Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $70.00 to $78.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.60.

Bristol-Myers Squibb Profile

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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.

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

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