6,816 Shares in Bristol Myers Squibb Company (NYSE:BMY) Acquired by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

Key Points

• C2P Capital Advisory Group LLC has made a new investment of $406,000 in Bristol Myers Squibb, acquiring 6,816 shares in the company.
• Bristol Myers Squibb reported a quarterly earnings per share (EPS) of $1.46, significantly exceeding analysts' estimates of $1.07, with revenue of $12.27 billion.
• The company recently announced a quarterly dividend of $0.62, representing an annualized yield of 5.4%, with a payout ratio of 100%.

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,816 shares of the biopharmaceutical company's stock, valued at approximately $406,000.

Several other large investors have also made changes to their positions in BMY. Marcum Wealth LLC boosted its holdings in shares of Bristol Myers Squibb by 1.0% during the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock worth $1,177,000 after buying an additional 193 shares in the last quarter. Beacon Investment Advisory Services Inc. lifted its stake 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 worth $492,000 after acquiring an additional 212 shares during the period. 1858 Wealth Management LLC raised its holdings 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 worth $392,000 after purchasing an additional 221 shares in the last quarter. Tompkins Financial Corp increased its holdings in shares of Bristol Myers Squibb by 2.5% during the first quarter. Tompkins Financial Corp now owns 9,151 shares of the biopharmaceutical company's stock valued at $558,000 after acquiring an additional 225 shares in 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 worth $1,038,000 after purchasing an additional 225 shares during the last quarter. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Trading Up 1.3%

Shares of NYSE:BMY traded up $0.64 during midday trading on Friday, reaching $48.45. 11,093,102 shares of the company's stock were exchanged, compared to its average volume of 13,366,408. The firm's 50 day simple moving average is $47.23 and its two-hundred day simple moving average is $51.57. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The stock has a market cap of $98.62 billion, a price-to-earnings ratio of 19.54, a P/E/G ratio of 2.45 and a beta of 0.36. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the previous year, the business earned $2.07 earnings per share. The company's revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's payout ratio is 100.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Jefferies Financial Group lowered their price target on 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. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Finally, Citigroup decreased their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $56.38.

Bristol Myers Squibb Company 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.