Wealthsource Partners LLC purchased a new stake in shares of Bristol-Myers Squibb Co. (NYSE:BMY) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,727 shares of the biopharmaceutical company’s stock, valued at approximately $201,000.

Other institutional investors also recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. increased its position in shares of Bristol-Myers Squibb by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 44,742,184 shares of the biopharmaceutical company’s stock valued at $2,858,131,000 after buying an additional 844,233 shares during the last quarter. Jennison Associates LLC increased its position in shares of Bristol-Myers Squibb by 4.1% in the second quarter. Jennison Associates LLC now owns 28,064,140 shares of the biopharmaceutical company’s stock valued at $2,064,118,000 after buying an additional 1,099,210 shares during the last quarter. BlackRock Group LTD increased its position in shares of Bristol-Myers Squibb by 0.3% in the first quarter. BlackRock Group LTD now owns 15,139,964 shares of the biopharmaceutical company’s stock valued at $967,140,000 after buying an additional 38,123 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Bristol-Myers Squibb by 1.9% in the first quarter. Geode Capital Management LLC now owns 13,534,575 shares of the biopharmaceutical company’s stock valued at $862,835,000 after buying an additional 254,653 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of Bristol-Myers Squibb by 9.8% in the first quarter. TIAA CREF Investment Management LLC now owns 10,372,071 shares of the biopharmaceutical company’s stock valued at $662,568,000 after buying an additional 921,866 shares during the last quarter. Hedge funds and other institutional investors own 72.95% of the company’s stock.

Bristol-Myers Squibb Co. (NYSE:BMY) traded up 0.87% during mid-day trading on Tuesday, reaching $55.56. The company’s stock had a trading volume of 9,934,824 shares. Bristol-Myers Squibb Co. has a 12-month low of $55.02 and a 12-month high of $77.12. The firm’s 50 day moving average is $60.17 and its 200-day moving average is $67.73. The company has a market cap of $92.83 billion, a PE ratio of 32.49 and a beta of 0.61.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.60 billion. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. Bristol-Myers Squibb’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. Equities analysts anticipate that Bristol-Myers Squibb Co. will post $2.63 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.74%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 87.36%.

BMY has been the subject of several analyst reports. Deutsche Bank AG restated a “hold” rating on shares of Bristol-Myers Squibb in a report on Wednesday, June 15th. BMO Capital Markets reiterated a “market perform” rating and issued a $60.00 price objective on shares of Bristol-Myers Squibb in a report on Saturday, September 3rd. Credit Suisse Group AG reiterated a “hold” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, August 15th. Zacks Investment Research downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Bristol-Myers Squibb in a report on Thursday, August 25th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $69.64.

In related news, Director Lamberto Andreotti sold 21,600 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the sale, the director now directly owns 334,499 shares of the company’s stock, valued at $19,022,958.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

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