WESPAC Advisors LLC Invests $949,000 in Bristol Myers Squibb Company (NYSE:BMY)

WESPAC Advisors LLC acquired a new position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 15,562 shares of the biopharmaceutical company's stock, valued at approximately $949,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Bristol Myers Squibb by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company's stock worth $10,743,262,000 after purchasing an additional 1,373,209 shares during the period. Capital International Investors raised its position in shares of Bristol Myers Squibb by 7.5% during the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock worth $2,593,940,000 after purchasing an additional 3,218,865 shares during the period. Geode Capital Management LLC raised its position in shares of Bristol Myers Squibb by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company's stock worth $2,505,967,000 after purchasing an additional 1,187,231 shares during the period. Norges Bank acquired a new stake in shares of Bristol Myers Squibb during the fourth quarter worth $1,989,525,000. Finally, Ameriprise Financial Inc. raised its position in shares of Bristol Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after purchasing an additional 12,011,983 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Price Performance

NYSE BMY opened at $48.54 on Friday. Bristol Myers Squibb Company has a twelve month low of $39.93 and a twelve month high of $63.33. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. The stock has a market capitalization of $98.78 billion, a PE ratio of 18.18, a P/E/G ratio of 1.41 and a beta of 0.36. The stock has a 50-day simple moving average of $47.58 and a 200 day simple moving average of $53.35.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. During the same quarter in the previous year, the firm earned ($4.40) EPS. The firm's revenue was down 5.6% compared to the same quarter last year. Research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued 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 5.11%. Bristol Myers Squibb's dividend payout ratio (DPR) is 92.88%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BMY shares. William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb 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. Argus upgraded Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Cantor Fitzgerald restated a "neutral" rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Finally, Jefferies Financial Group lowered their target price 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. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $57.69.

Insider Buying and Selling

In other news, EVP Samit Hirawat purchased 4,250 shares of the business's stock in a transaction on Friday, April 25th. The stock was purchased at an average price of $47.58 per share, with a total value of $202,215.00. Following the acquisition, the executive vice president directly owned 83,513 shares in the company, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by company insiders.

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.

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