Symphony Financial Ltd. Co. Raises Holdings in Bristol-Myers Squibb (NYSE:BMY)

Symphony Financial Ltd. Co. lifted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 36.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 17,802 shares of the biopharmaceutical company’s stock after purchasing an additional 4,751 shares during the period. Symphony Financial Ltd. Co.’s holdings in Bristol-Myers Squibb were worth $930,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Global Assets Advisory LLC acquired a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth approximately $5,161,000. Sunbelt Securities Inc. grew its holdings in shares of Bristol-Myers Squibb by 19.1% in the 1st quarter. Sunbelt Securities Inc. now owns 10,080 shares of the biopharmaceutical company’s stock worth $547,000 after acquiring an additional 1,614 shares during the period. RMR Wealth Builders grew its holdings in shares of Bristol-Myers Squibb by 9.8% in the 1st quarter. RMR Wealth Builders now owns 5,805 shares of the biopharmaceutical company’s stock worth $315,000 after acquiring an additional 517 shares during the period. Brookstone Capital Management grew its holdings in shares of Bristol-Myers Squibb by 36.4% in the 1st quarter. Brookstone Capital Management now owns 150,037 shares of the biopharmaceutical company’s stock worth $8,137,000 after acquiring an additional 40,018 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth approximately $83,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Up 1.2 %

Shares of Bristol-Myers Squibb stock opened at $52.76 on Wednesday. The business has a 50-day moving average of $50.53 and a 200-day moving average of $46.35. 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 has a market capitalization of $106.95 billion, a PE ratio of -17.02, a P/E/G ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $56.77.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm earned $1.75 earnings per share. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.55%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. TD Cowen increased their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. BMO Capital Markets reiterated a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Barclays increased their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $53.20.

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.