New Wave Wealth Advisors LLC Buys 7,723 Shares of Bristol Myers Squibb Company (NYSE:BMY)

New Wave Wealth Advisors LLC boosted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 7,571.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,825 shares of the biopharmaceutical company's stock after purchasing an additional 7,723 shares during the period. New Wave Wealth Advisors LLC's holdings in Bristol Myers Squibb were worth $477,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. Pinney & Scofield Inc. bought a new position in Bristol Myers Squibb during the fourth quarter worth about $25,000. Park Square Financial Group LLC acquired a new stake in shares of Bristol Myers Squibb during the fourth quarter worth approximately $26,000. Fairway Wealth LLC acquired a new stake in shares of Bristol Myers Squibb during the fourth quarter worth approximately $28,000. Transce3nd LLC acquired a new stake in shares of Bristol Myers Squibb during the fourth quarter worth approximately $28,000. Finally, Global Wealth Strategies & Associates increased its holdings in shares of Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 275 shares in the last quarter. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Trading Down 0.7%

Shares of NYSE BMY opened at $46.34 on Monday. The company's fifty day moving average is $47.90 and its 200-day moving average is $53.91. The stock has a market cap of $94.31 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 1.37 and a beta of 0.38. Bristol Myers Squibb Company has a twelve month low of $39.35 and a twelve month high of $63.33. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.50 by $0.30. The business had revenue of $11.20 billion for the quarter, compared to analysts' expectations of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The firm's revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($4.40) EPS. Equities research analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be given a $0.62 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.35%. Bristol Myers Squibb's dividend payout ratio is currently 92.88%.

Insider Activity at Bristol Myers Squibb

In related news, EVP Samit Hirawat acquired 4,250 shares of the business's stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the transaction, the executive vice president now owns 83,513 shares of the company's stock, valued at $3,973,548.54. The trade was a 5.36% increase in their position. The purchase 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 insiders.

Wall Street Analyst Weigh In

BMY has been the subject of several recent analyst reports. UBS Group dropped their price objective on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Piper Sandler initiated coverage on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price target for the company. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price target (down previously from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $58.00.

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.

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