Providence Wealth Advisors LLC Boosts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Providence Wealth Advisors LLC raised its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,817 shares of the biopharmaceutical company’s stock after purchasing an additional 763 shares during the period. Bristol-Myers Squibb accounts for approximately 1.2% of Providence Wealth Advisors LLC’s investment portfolio, making the stock its 27th largest holding. Providence Wealth Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,625,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the third quarter valued at about $25,000. Hollencrest Capital Management grew its stake in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the last quarter. Kennebec Savings Bank purchased a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $28,000. Darwin Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $29,000. Finally, Valued Wealth Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.9 %

Bristol-Myers Squibb stock opened at $59.27 on Friday. The stock has a market capitalization of $120.21 billion, a PE ratio of -16.51, a price-to-earnings-growth ratio of 15.77 and a beta of 0.44. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08. The business has a 50 day simple moving average of $54.41 and a 200-day simple moving average of $48.12. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 earnings per share. On average, analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -66.85%.

Insider Buying and Selling

In other news, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BMY shares. UBS Group boosted their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Barclays lifted their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Citigroup lifted their target price on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Finally, Morgan Stanley lifted their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $54.07.

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.