Pacific Wealth Strategies Group Inc. Has $962,000 Position in Bristol-Myers Squibb Co (NYSE:BMY)

Pacific Wealth Strategies Group Inc. grew its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 15.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 18,965 shares of the biopharmaceutical company’s stock after buying an additional 2,565 shares during the period. Pacific Wealth Strategies Group Inc.’s holdings in Bristol-Myers Squibb were worth $962,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Lodestar Investment Counsel LLC IL increased its stake in Bristol-Myers Squibb by 5.2% in the second quarter. Lodestar Investment Counsel LLC IL now owns 113,720 shares of the biopharmaceutical company’s stock valued at $5,157,000 after acquiring an additional 5,579 shares during the period. Perella Weinberg Partners Capital Management LP increased its stake in Bristol-Myers Squibb by 10.9% in the first quarter. Perella Weinberg Partners Capital Management LP now owns 19,431 shares of the biopharmaceutical company’s stock valued at $99,000 after acquiring an additional 1,905 shares during the period. Cypress Capital Management LLC increased its stake in Bristol-Myers Squibb by 21.2% in the second quarter. Cypress Capital Management LLC now owns 154,335 shares of the biopharmaceutical company’s stock valued at $6,999,000 after acquiring an additional 26,990 shares during the period. Stephens Inc. AR increased its stake in Bristol-Myers Squibb by 30.7% in the first quarter. Stephens Inc. AR now owns 216,532 shares of the biopharmaceutical company’s stock valued at $10,331,000 after acquiring an additional 50,798 shares during the period. Finally, Nachman Norwood & Parrott Inc increased its stake in Bristol-Myers Squibb by 3.5% in the second quarter. Nachman Norwood & Parrott Inc now owns 50,388 shares of the biopharmaceutical company’s stock valued at $2,285,000 after acquiring an additional 1,687 shares during the period. 80.17% of the stock is owned by institutional investors and hedge funds.

In related news, Director Robert J. Bertolini bought 11,000 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, July 31st. The shares were bought at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the completion of the transaction, the director now owns 11,397 shares of the company’s stock, valued at $509,673.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

A number of research firms recently weighed in on BMY. ValuEngine raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Monday. Atlantic Securities raised shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price objective on the stock in a research note on Wednesday, August 14th. JPMorgan Chase & Co. set a $62.00 price objective on shares of Bristol-Myers Squibb and gave the stock a “buy” rating in a research note on Friday, September 13th. TheStreet raised shares of Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research note on Wednesday, September 18th. Finally, UBS Group decreased their price objective on shares of Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, June 13th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $55.74.

Shares of BMY stock traded up $0.05 during trading hours on Wednesday, reaching $50.41. 1,497,158 shares of the company were exchanged, compared to its average volume of 15,380,078. Bristol-Myers Squibb Co has a fifty-two week low of $42.48 and a fifty-two week high of $63.69. The stock’s fifty day moving average is $49.11 and its two-hundred day moving average is $47.01. The company has a market cap of $83.02 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 2.50 and a beta of 0.72. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.88 and a quick ratio of 3.75.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The company had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same period in the prior year, the business earned $1.01 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 10.0% on a year-over-year basis. On average, research analysts anticipate that Bristol-Myers Squibb Co will post 4.29 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.25%. Bristol-Myers Squibb’s payout ratio is 41.21%.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

Further Reading: Basic Economics

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

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