Bristol-Myers Squibb (NYSE:BMY) Shares Purchased by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,550 shares of the biopharmaceutical company’s stock after buying an additional 300 shares during the period. Pinnacle West Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of BMY. Sunbelt Securities Inc. grew its position in Bristol-Myers Squibb by 19.1% in the 1st quarter. Sunbelt Securities Inc. now owns 10,080 shares of the biopharmaceutical company’s stock valued at $547,000 after buying an additional 1,614 shares during the last quarter. Brookstone Capital Management boosted its holdings in shares of Bristol-Myers Squibb by 36.4% in the first quarter. Brookstone Capital Management now owns 150,037 shares of the biopharmaceutical company’s stock valued at $8,137,000 after acquiring an additional 40,018 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Bristol-Myers Squibb during the first quarter worth about $83,000. Aspiriant LLC raised its holdings in Bristol-Myers Squibb by 8.3% during the first quarter. Aspiriant LLC now owns 9,118 shares of the biopharmaceutical company’s stock worth $495,000 after purchasing an additional 702 shares in the last quarter. Finally, Signet Financial Management LLC acquired a new stake in Bristol-Myers Squibb in the first quarter valued at about $1,070,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Barclays boosted their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. BMO Capital Markets reaffirmed a “market perform” rating and set a $48.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Finally, TD Cowen upped their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $53.20.

Bristol-Myers Squibb Trading Down 0.2 %

Shares of NYSE:BMY traded down $0.10 during midday trading on Thursday, reaching $52.96. The company’s stock had a trading volume of 1,409,136 shares, compared to its average volume of 14,561,574. The firm has a market cap of $107.36 billion, a price-to-earnings ratio of -17.08, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The business has a 50 day moving average price of $50.63 and a 200 day moving average price of $46.39. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $56.77. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same period in the previous year, the firm earned $1.75 earnings per share. Bristol-Myers Squibb’s revenue was up 8.7% compared to the same quarter last year. Research analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

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.