Sierra Summit Advisors LLC Buys 11,281 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Sierra Summit Advisors LLC increased its stake in Bristol Myers Squibb by 64.3% in Q1, bringing their holdings to 28,822 shares worth approximately $1.76 million.
• Several institutional investors, including Measured Wealth Private Client Group LLC and Fiduciary Family Office LLC, have also increased or established positions in Bristol Myers Squibb during the same quarter.
• A variety of analysts have provided mixed ratings for Bristol Myers Squibb, with a consensus rating of "Hold" and a price target of around $56.38, influenced by recent adjustments from various firms like UBS Group and Daiwa America.

Sierra Summit Advisors LLC boosted its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 64.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,822 shares of the biopharmaceutical company's stock after buying an additional 11,281 shares during the quarter. Sierra Summit Advisors LLC's holdings in Bristol Myers Squibb were worth $1,758,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marcum Wealth LLC grew its stake in shares of 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 acquiring an additional 193 shares during the last quarter. Beacon Investment Advisory Services Inc. boosted its position in Bristol Myers Squibb by 2.7% in the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock valued at $492,000 after buying an additional 212 shares during the last quarter. 1858 Wealth Management LLC boosted its position in Bristol Myers Squibb by 3.6% in the first quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company's stock valued at $392,000 after buying an additional 221 shares during the last quarter. Tompkins Financial Corp boosted its position in Bristol Myers Squibb by 2.5% in the first quarter. Tompkins Financial Corp now owns 9,151 shares of the biopharmaceutical company's stock valued at $558,000 after buying an additional 225 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its position in Bristol Myers Squibb by 1.3% in the first quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company's stock valued at $1,038,000 after buying an additional 225 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BMY has been the topic of several recent research reports. Citigroup lowered their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Finally, Daiwa Capital Markets downgraded Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective for the company. in a research note on Tuesday, August 5th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $56.38.

Bristol Myers Squibb Price Performance

Shares of NYSE BMY traded down $0.04 during mid-day trading on Monday, reaching $45.91. The company had a trading volume of 8,663,225 shares, compared to its average volume of 13,566,976. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The stock has a market cap of $93.45 billion, a PE ratio of 18.51, a P/E/G ratio of 2.35 and a beta of 0.36. The company has a 50-day moving average price of $47.26 and a two-hundred day moving average price of $51.72.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. The business had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. During the same quarter in the previous year, the firm earned $2.07 EPS. The firm's revenue was up .6% compared to the same quarter last year. On average, equities analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 100.00%.

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.