Arkadios Wealth Advisors Has $1.59 Million Holdings in Bristol-Myers Squibb (NYSE:BMY)

Posted by Casey Walker on Mar 19th, 2023

Arkadios Wealth Advisors boosted its position in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 24.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,121 shares of the biopharmaceutical company’s stock after acquiring an additional 4,303 shares during the quarter. Arkadios Wealth Advisors’ holdings in Bristol-Myers Squibb were worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMY. New Millennium Group LLC acquired a new position in Bristol-Myers Squibb in the 2nd quarter valued at $31,000. Clear Investment Research LLC acquired a new position in Bristol-Myers Squibb in the 3rd quarter valued at $36,000. Western Pacific Wealth Management LP grew its stake in Bristol-Myers Squibb by 878.6% in the 3rd quarter. Western Pacific Wealth Management LP now owns 548 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 492 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new position in Bristol-Myers Squibb in the 3rd quarter valued at $41,000. Finally, Heritage Wealth Management LLC bought a new stake in Bristol-Myers Squibb in the 2nd quarter valued at $44,000. 75.51% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $66.53 on Friday. The company has a 50-day moving average of $70.96 and a 200-day moving average of $72.91. The company has a market capitalization of $139.63 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 1.46 and a beta of 0.46. Bristol-Myers Squibb has a 52 week low of $65.28 and a 52 week high of $81.43. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.14 and a current ratio of 1.25.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last announced its earnings results on Thursday, February 2nd. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.11. The business had revenue of $11.41 billion during the quarter, compared to analysts’ expectations of $11.20 billion. Bristol-Myers Squibb had a net margin of 13.71% and a return on equity of 51.60%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the company posted $1.83 EPS. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 8.06 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Thursday, April 6th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 77.29%.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of research reports. Wells Fargo & Company increased their price target on shares of Bristol-Myers Squibb from $70.00 to $78.00 and gave the company an “equal weight” rating in a report on Tuesday, January 3rd. Cantor Fitzgerald initiated coverage on shares of Bristol-Myers Squibb in a report on Tuesday, January 17th. They issued an “overweight” rating and a $95.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Bristol-Myers Squibb in a report on Monday, March 6th. They issued a “hold” rating and a $62.00 price target for the company. Morgan Stanley increased their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “underweight” rating in a report on Friday, February 3rd. Finally, StockNews.com initiated coverage on shares of Bristol-Myers Squibb in a report on Thursday. They issued a “strong-buy” rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.69.

Insider Buying and Selling

In related news, CEO Giovanni Caforio sold 240,000 shares of the stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $74.65, for a total transaction of $17,916,000.00. Following the completion of the sale, the chief executive officer now owns 236,104 shares in the company, valued at approximately $17,625,163.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Bristol-Myers Squibb news, EVP Ann Powell sold 11,183 shares of the firm’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $74.69, for a total value of $835,258.27. Following the completion of the sale, the executive vice president now owns 23,043 shares in the company, valued at approximately $1,721,081.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Giovanni Caforio sold 240,000 shares of the firm’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $74.65, for a total transaction of $17,916,000.00. Following the completion of the sale, the chief executive officer now owns 236,104 shares of the company’s stock, valued at approximately $17,625,163.60. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Company Profile

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Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.