Lake Street Financial LLC Purchases 490 Shares of Bristol-Myers Squibb (NYSE:BMY)

Lake Street Financial LLC boosted its stake in Bristol-Myers Squibb (NYSE:BMYGet Rating) by 2.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,579 shares of the biopharmaceutical company’s stock after purchasing an additional 490 shares during the period. Lake Street Financial LLC’s holdings in Bristol-Myers Squibb were worth $1,357,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mizuho Securities Co. Ltd. increased its holdings in Bristol-Myers Squibb by 239.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 339 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 239 shares during the period. Spectrum Management Group LLC grew its holdings in Bristol-Myers Squibb by 113.1% during the 1st quarter. Spectrum Management Group LLC now owns 341 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 181 shares during the period. Nauset Wealth Management. LLC acquired a new stake in Bristol-Myers Squibb during the 1st quarter worth about $27,000. Conrad Siegel Investment Advisors Inc. acquired a new stake in Bristol-Myers Squibb during the 1st quarter worth about $28,000. Finally, Steward Financial Group LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth about $29,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $72.12 on Friday. Bristol-Myers Squibb has a 52-week low of $53.22 and a 52-week high of $80.59. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.34 and a current ratio of 1.44. The company has a market capitalization of $153.99 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.53 and a beta of 0.40. The company has a fifty day moving average of $75.00 and a 200-day moving average of $72.79.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.14. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.50 billion. Bristol-Myers Squibb had a net margin of 14.04% and a return on equity of 49.31%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.93 earnings per share. As a group, equities research analysts predict that Bristol-Myers Squibb will post 7.53 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 1st were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Thursday, June 30th. Bristol-Myers Squibb’s payout ratio is 71.76%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BMY shares. Truist Financial increased their price objective on shares of Bristol-Myers Squibb from $76.00 to $81.00 in a research report on Monday, May 2nd. Bank of America raised their price target on shares of Bristol-Myers Squibb from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, June 6th. Atlantic Securities raised their price target on shares of Bristol-Myers Squibb from $82.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. Wells Fargo & Company raised their price target on shares of Bristol-Myers Squibb from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 17th. Finally, Barclays raised their price target on shares of Bristol-Myers Squibb from $66.00 to $68.00 in a research report on Monday, May 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $75.57.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Sandra Leung sold 65,000 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $74.89, for a total value of $4,867,850.00. Following the sale, the executive vice president now owns 308,627 shares in the company, valued at $23,113,076.03. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Sandra Leung sold 65,000 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $74.89, for a total value of $4,867,850.00. Following the transaction, the executive vice president now owns 308,627 shares in the company, valued at $23,113,076.03. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Giovanni Caforio sold 30,000 shares of the stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $74.04, for a total transaction of $2,221,200.00. Following the transaction, the chief executive officer now owns 551,104 shares in the company, valued at approximately $40,803,740.16. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

About Bristol-Myers Squibb

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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