First Trust Direct Indexing L.P. Purchases 11,831 Shares of Bristol-Myers Squibb (NYSE:BMY)

First Trust Direct Indexing L.P. increased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 54.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,428 shares of the biopharmaceutical company’s stock after buying an additional 11,831 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Bristol-Myers Squibb were worth $1,730,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BMY. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb in the first quarter worth about $27,000. LGT Financial Advisors LLC raised its stake in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares during the period. ORG Wealth Partners LLC purchased a new position in Bristol-Myers Squibb during the third quarter valued at approximately $34,000. MFA Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb in the second quarter worth approximately $39,000. Finally, Beach Investment Counsel Inc. PA bought a new position in shares of Bristol-Myers Squibb in the second quarter worth approximately $42,000. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BMY shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Citigroup lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $75.00 to $55.00 in a research report on Friday, October 25th. Barclays upped their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. BMO Capital Markets restated a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Finally, Jefferies Financial Group upped their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. One research 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $52.38.

Bristol-Myers Squibb Trading Up 5.8 %

Shares of BMY opened at $55.74 on Friday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $56.20. The company has a market cap of $113.01 billion, a P/E ratio of -17.10, a P/E/G ratio of 13.75 and a beta of 0.46. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The company’s fifty day simple moving average is $51.14 and its 200-day simple moving average is $46.54.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -73.62%.

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.