Bristol-Myers Squibb (NYSE:BMY) Position Boosted by Lebenthal Global Advisors LLC

Lebenthal Global Advisors LLC lifted its position in Bristol-Myers Squibb (NYSE:BMY) by 19.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,323 shares of the biopharmaceutical company’s stock after buying an additional 2,178 shares during the quarter. Lebenthal Global Advisors LLC’s holdings in Bristol-Myers Squibb were worth $689,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in BMY. Reston Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $25,000. ESL Trust Services LLC bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at approximately $27,000. Valued Wealth Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 549 shares in the last quarter. LGT Financial Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 227 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $34,000. Institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Jefferies Financial Group upped their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price on the stock. Citigroup cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the company from $75.00 to $55.00 in a report on Friday, October 25th. Finally, TD Cowen lifted their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $52.38.

Bristol-Myers Squibb Price Performance

Shares of BMY traded down $1.04 during mid-day trading on Friday, reaching $54.73. The company had a trading volume of 1,806,085 shares, compared to its average volume of 14,432,123. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $56.20. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The company’s 50-day moving average is $51.14 and its 200-day moving average is $46.54. The company has a market capitalization of $110.96 billion, a P/E ratio of -17.10, a P/E/G ratio of 14.62 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the prior year, the firm posted $2.00 EPS. Bristol-Myers Squibb’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities analysts anticipate that Bristol-Myers Squibb will post 0.72 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.39%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -73.62%.

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.