Denver PWM LLC Makes New Investment in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Denver PWM LLC has acquired 6,150 shares of Bristol Myers Squibb, valued at approximately $375,000, according to a recent SEC filing.
• Despite a 5.6% year-over-year decline in revenue, Bristol Myers Squibb reported earnings per share of $1.80, exceeding analysts' estimates of $1.50.
• The company announced a quarterly dividend of $0.62 per share, representing an annual yield of 5.06% and a payout ratio of 92.88%.

Denver PWM LLC acquired a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,150 shares of the biopharmaceutical company's stock, valued at approximately $375,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thoroughbred Financial Services LLC boosted its position in Bristol Myers Squibb by 1.1% during the fourth quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company's stock worth $1,004,000 after acquiring an additional 190 shares during the last quarter. Marcum Wealth LLC raised its stake in Bristol Myers Squibb by 1.0% during the first quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock worth $1,177,000 after purchasing an additional 193 shares during the period. Beacon Investment Advisory Services Inc. raised its stake in Bristol Myers Squibb by 2.7% during the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock worth $492,000 after purchasing an additional 212 shares during the period. Providence Capital Advisors LLC raised its stake in Bristol Myers Squibb by 0.4% during the fourth quarter. Providence Capital Advisors LLC now owns 52,480 shares of the biopharmaceutical company's stock worth $2,968,000 after purchasing an additional 221 shares during the period. Finally, Nemes Rush Group LLC raised its stake in Bristol Myers Squibb by 0.8% during the fourth quarter. Nemes Rush Group LLC now owns 27,027 shares of the biopharmaceutical company's stock worth $1,529,000 after purchasing an additional 221 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Trading Down 1.2%

Bristol Myers Squibb stock traded down $0.59 during mid-day trading on Tuesday, hitting $46.93. The stock had a trading volume of 3,828,277 shares, compared to its average volume of 13,243,028. The stock has a market capitalization of $95.50 billion, a PE ratio of 17.58, a P/E/G ratio of 2.53 and a beta of 0.36. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. Bristol Myers Squibb Company has a 12 month low of $44.00 and a 12 month high of $63.33. The stock has a 50-day simple moving average of $47.67 and a two-hundred day simple moving average of $52.53.

Bristol Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is 92.88%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Jefferies Financial Group cut their target price on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $55.00 price target (down from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Morgan Stanley reduced their price target on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating for the company in a report on Thursday, July 10th. Finally, Argus raised Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Bristol Myers Squibb has a consensus rating of "Hold" and an average target price of $58.53.

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.