First Trust Direct Indexing L.P. Grows Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

First Trust Direct Indexing L.P. boosted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 52.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,320 shares of the biopharmaceutical company’s stock after buying an additional 7,649 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Bristol-Myers Squibb were worth $1,210,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwest Financial Advisors purchased a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $27,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $34,000. VisionPoint Advisory Group LLC raised its stake in Bristol-Myers Squibb by 300.5% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 737 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 553 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in Bristol-Myers Squibb in the fourth quarter valued at $40,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at $40,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Barclays decreased their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. Finally, BMO Capital Markets reduced their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $40.06 on Friday. Bristol-Myers Squibb has a 52 week low of $39.63 and a 52 week high of $65.38. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The company’s 50-day moving average price is $42.37 and its 200 day moving average price is $47.86.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.05 EPS. On average, equities analysts expect that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

About Bristol-Myers Squibb

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.