Wealth Enhancement Advisory Services LLC Buys 80,087 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Wealth Enhancement Advisory Services LLC raised its stake in Bristol Myers Squibb Company (NYSE:BMY) by 17.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 550,613 shares of the biopharmaceutical company’s stock after buying an additional 80,087 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Bristol Myers Squibb were worth $33,582,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Bristol Myers Squibb by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock valued at $10,743,262,000 after purchasing an additional 1,373,209 shares in the last quarter. Capital International Investors lifted its holdings in shares of Bristol Myers Squibb by 7.5% in the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company’s stock valued at $2,593,940,000 after purchasing an additional 3,218,865 shares in the last quarter. Geode Capital Management LLC lifted its stake in Bristol Myers Squibb by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company’s stock valued at $2,505,967,000 after acquiring an additional 1,187,231 shares in the last quarter. Norges Bank bought a new stake in Bristol Myers Squibb in the 4th quarter valued at approximately $1,989,525,000. Finally, Ameriprise Financial Inc. lifted its stake in Bristol Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock valued at $1,814,341,000 after acquiring an additional 12,011,983 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP Samit Hirawat bought 4,250 shares of the stock in a transaction dated Friday, April 25th. The shares were bought at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the acquisition, the executive vice president now owns 83,513 shares of the company’s stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

Bristol Myers Squibb Stock Up 0.1%

BMY opened at $46.87 on Friday. Bristol Myers Squibb Company has a 1-year low of $39.35 and a 1-year high of $63.33. The stock’s fifty day simple moving average is $48.20 and its 200 day simple moving average is $54.35. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. The stock has a market cap of $95.38 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 1.39 and a beta of 0.38.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. The company had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($4.40) earnings per share. As a group, research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb’s payout ratio is 92.88%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BMY. William Blair reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. Argus raised shares of Bristol Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group dropped their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $58.00.

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.