HB Wealth Management LLC Grows Stake in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• HB Wealth Management LLC increased its stake in Bristol Myers Squibb by 22.4%, acquiring 16,500 additional shares for a total of 90,042 shares, now valued at approximately $5.49 million.
• During the first quarter, other institutional investors made significant changes to their holdings, including Marietta Investment Partners LLC which boosted its shares by 826.9%, bringing its total to 75,078 shares valued at about $4.58 million.
• Bristol Myers Squibb announced a quarterly dividend of $0.62 per share, representing an annualized dividend of $2.48 and a yield of 5.12%.

HB Wealth Management LLC increased its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 22.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 90,042 shares of the biopharmaceutical company's stock after purchasing an additional 16,500 shares during the period. HB Wealth Management LLC's holdings in Bristol Myers Squibb were worth $5,492,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinney & Scofield Inc. acquired a new position in Bristol Myers Squibb in the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC purchased a new stake in shares of Bristol Myers Squibb during the 4th quarter valued at $26,000. Transce3nd LLC purchased a new position in Bristol Myers Squibb in the 4th quarter worth approximately $28,000. Global Wealth Strategies & Associates grew its position in shares of Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 275 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Bristol Myers Squibb during the first quarter valued at approximately $31,000. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY traded down $0.20 during trading on Wednesday, hitting $46.66. 3,304,694 shares of the company's stock were exchanged, compared to its average volume of 13,223,447. The business's 50-day simple moving average is $47.65 and its 200 day simple moving average is $52.49. Bristol Myers Squibb Company has a 52-week low of $44.00 and a 52-week high of $63.33. The company has a market cap of $94.95 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 2.50 and a beta of 0.36. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.32%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's payout ratio is 92.88%.

Analyst Upgrades and Downgrades

Several research firms have commented on BMY. Morgan Stanley dropped their target price on Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating on the stock in a report on Thursday, July 10th. Argus raised Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. William Blair reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $55.00 price target on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $58.53.

Bristol Myers Squibb Profile

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.