Diversify Advisory Services LLC Buys Shares of 22,960 Bristol-Myers Squibb (NYSE:BMY)

Diversify Advisory Services LLC purchased a new position in Bristol-Myers Squibb (NYSE:BMY) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 22,960 shares of the biopharmaceutical company’s stock, valued at approximately $1,217,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BMY. Hartline Investment Corp boosted its position in shares of Bristol-Myers Squibb by 387.5% during the first quarter. Hartline Investment Corp now owns 19,099 shares of the biopharmaceutical company’s stock worth $1,036,000 after buying an additional 15,181 shares during the period. Longbow Finance SA bought a new stake in Bristol-Myers Squibb during the 1st quarter valued at $1,730,000. Norden Group LLC grew its stake in shares of Bristol-Myers Squibb by 30.2% in the first quarter. Norden Group LLC now owns 13,846 shares of the biopharmaceutical company’s stock worth $751,000 after purchasing an additional 3,213 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Bristol-Myers Squibb by 97.2% during the first quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock valued at $431,084,000 after purchasing an additional 3,918,234 shares during the period. Finally, HB Wealth Management LLC raised its stake in shares of Bristol-Myers Squibb by 6.8% during the first quarter. HB Wealth Management LLC now owns 69,801 shares of the biopharmaceutical company’s stock valued at $3,785,000 after purchasing an additional 4,451 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

BMY has been the subject of several recent analyst reports. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Wells Fargo & Company boosted their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Barclays reduced their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Finally, StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock traded up $0.20 on Friday, reaching $39.66. 12,824,373 shares of the company were exchanged, compared to its average volume of 15,346,125. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $65.38. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The company has a 50-day moving average of $42.27 and a 200 day moving average of $47.78.

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

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 6.05%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

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.