Alpha Cubed Investments LLC Takes $949,000 Position in Bristol Myers Squibb Company (NYSE:BMY)

Alpha Cubed Investments LLC acquired a new position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 15,556 shares of the biopharmaceutical company's stock, valued at approximately $949,000.

Several other large investors have also modified their holdings of the stock. Davidson Investment Advisors raised its stake in shares of Bristol Myers Squibb by 3.1% during the first quarter. Davidson Investment Advisors now owns 300,366 shares of the biopharmaceutical company's stock worth $18,319,000 after purchasing an additional 9,045 shares during the last quarter. Gibraltar Capital Management Inc. raised its stake in shares of Bristol Myers Squibb by 1.3% during the first quarter. Gibraltar Capital Management Inc. now owns 118,355 shares of the biopharmaceutical company's stock worth $7,218,000 after purchasing an additional 1,487 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Bristol Myers Squibb by 13.4% during the first quarter. Crossmark Global Holdings Inc. now owns 216,452 shares of the biopharmaceutical company's stock worth $13,201,000 after purchasing an additional 25,638 shares during the last quarter. Centennial Bank AR raised its stake in shares of Bristol Myers Squibb by 2.9% during the first quarter. Centennial Bank AR now owns 10,784 shares of the biopharmaceutical company's stock worth $658,000 after purchasing an additional 300 shares during the last quarter. Finally, Brass Tax Wealth Management Inc. grew its holdings in Bristol Myers Squibb by 3.4% during the first quarter. Brass Tax Wealth Management Inc. now owns 14,554 shares of the biopharmaceutical company's stock worth $888,000 after acquiring an additional 483 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY traded down $0.42 on Monday, hitting $46.50. The company had a trading volume of 10,683,820 shares, compared to its average volume of 12,874,010. 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 52-week low of $39.50 and a 52-week high of $63.33. The business has a 50 day moving average of $47.73 and a 200 day moving average of $53.58. The company has a market cap of $94.63 billion, a PE ratio of 17.42, a PEG ratio of 1.39 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The firm had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. During the same period in the prior year, the business posted ($4.40) earnings per share. The firm's revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a $0.62 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.33%. Bristol Myers Squibb's dividend payout ratio (DPR) is 92.88%.

Insider Activity at Bristol Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the stock in a transaction dated Friday, April 25th. The stock was acquired at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the purchase, the executive vice president owned 83,513 shares in the company, valued at $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BMY has been the topic of several research analyst reports. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Jefferies Financial Group reduced their price target on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Piper Sandler started coverage on Bristol Myers Squibb in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price target on the stock. Finally, Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Bristol Myers Squibb currently has an average rating of "Hold" and a consensus price target of $58.00.

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.