Doyle Wealth Management purchased a new stake in Bristol-Myers Squibb Co (NYSE:BMY) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 267,943 shares of the biopharmaceutical company’s stock, valued at approximately $14,571,000. Bristol-Myers Squibb accounts for 3.0% of Doyle Wealth Management’s portfolio, making the stock its 8th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Iowa State Bank raised its stake in Bristol-Myers Squibb by 4.0% in the first quarter. Iowa State Bank now owns 51,555 shares of the biopharmaceutical company’s stock valued at $2,804,000 after buying an additional 1,970 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in Bristol-Myers Squibb by 5.3% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 84,207 shares of the biopharmaceutical company’s stock valued at $4,579,000 after buying an additional 4,247 shares in the last quarter. First National Bank & Trust Co. of Newtown raised its stake in Bristol-Myers Squibb by 0.3% in the first quarter. First National Bank & Trust Co. of Newtown now owns 42,736 shares of the biopharmaceutical company’s stock valued at $2,324,000 after buying an additional 118 shares in the last quarter. BLB&B Advisors LLC raised its stake in Bristol-Myers Squibb by 3.1% in the first quarter. BLB&B Advisors LLC now owns 89,392 shares of the biopharmaceutical company’s stock valued at $4,861,000 after buying an additional 2,660 shares in the last quarter. Finally, Community Bank of Raymore raised its stake in Bristol-Myers Squibb by 2.8% in the first quarter. Community Bank of Raymore now owns 6,740 shares of the biopharmaceutical company’s stock valued at $366,000 after buying an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 69.67% of the company’s stock.

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

Shares of Bristol-Myers Squibb Co (NYSE:BMY) traded up 0.28% during mid-day trading on Friday, reaching $53.93. The company’s stock had a trading volume of 2,763,390 shares. The stock has a market capitalization of $88.85 billion, a P/E ratio of 18.73 and a beta of 1.00. The company’s 50-day moving average price is $54.28 and its 200-day moving average price is $55.14. Bristol-Myers Squibb Co has a 12-month low of $46.01 and a 12-month high of $77.12.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 27th. The biopharmaceutical company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. Bristol-Myers Squibb had a return on equity of 31.39% and a net margin of 22.94%. The firm had revenue of $4.93 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. The company’s revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts forecast that Bristol-Myers Squibb Co will post $2.95 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, May 1st. Shareholders of record on Friday, April 7th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $1.56 dividend on an annualized basis and a yield of 2.90%. Bristol-Myers Squibb’s dividend payout ratio is currently 58.87%.

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BMY has been the subject of several research reports. William Blair reissued an “ourperform” rating on shares of Bristol-Myers Squibb in a research report on Friday, January 20th. Cowen and Company downgraded shares of Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $77.12 to $65.00 in a research report on Friday, January 20th. Jefferies Group LLC reissued a “buy” rating and issued a $69.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, January 20th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a report on Saturday, January 21st. Finally, BMO Capital Markets lifted their price objective on shares of Bristol-Myers Squibb from $47.00 to $53.00 and gave the stock a “market perform” rating in a report on Monday, January 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $62.57.

In other Bristol-Myers Squibb news, Director Theodore R. Samuels II purchased 12,000 shares of the stock in a transaction on Monday, February 27th. The shares were bought at an average price of $56.77 per share, for a total transaction of $681,240.00. Following the completion of the transaction, the director now owns 12,000 shares of the company’s stock, valued at approximately $681,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lamberto Andreotti sold 34,000 shares of the stock in a transaction that occurred on Friday, April 7th. The stock was sold at an average price of $53.26, for a total value of $1,810,840.00. Following the transaction, the director now owns 952,571 shares in the company, valued at approximately $50,733,931.46. The disclosure for this sale can be found here. Insiders have sold 190,501 shares of company stock worth $10,690,203 in the last quarter. 0.24% of the stock is currently owned by company insiders.

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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