Strategic Global Advisors LLC Raises Stake in Bristol-Myers Squibb (NYSE:BMY)

Strategic Global Advisors LLC increased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 100,816 shares of the biopharmaceutical company’s stock after buying an additional 4,156 shares during the period. Bristol-Myers Squibb accounts for 1.0% of Strategic Global Advisors LLC’s portfolio, making the stock its 27th largest position. Strategic Global Advisors LLC’s holdings in Bristol-Myers Squibb were worth $5,702,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BMY. Burney Co. increased its stake in Bristol-Myers Squibb by 4.2% in the 4th quarter. Burney Co. now owns 12,753 shares of the biopharmaceutical company’s stock worth $721,000 after acquiring an additional 516 shares during the last quarter. Carnegie Investment Counsel increased its stake in Bristol-Myers Squibb by 3.7% in the 4th quarter. Carnegie Investment Counsel now owns 33,435 shares of the biopharmaceutical company’s stock worth $1,891,000 after acquiring an additional 1,193 shares during the last quarter. Ritholtz Wealth Management increased its stake in Bristol-Myers Squibb by 65.2% in the 4th quarter. Ritholtz Wealth Management now owns 39,389 shares of the biopharmaceutical company’s stock worth $2,228,000 after acquiring an additional 15,546 shares during the last quarter. Goldstone Financial Group LLC increased its stake in Bristol-Myers Squibb by 6.1% in the 4th quarter. Goldstone Financial Group LLC now owns 4,824 shares of the biopharmaceutical company’s stock worth $273,000 after acquiring an additional 279 shares during the last quarter. Finally, Procyon Advisors LLC increased its stake in Bristol-Myers Squibb by 8.3% in the 4th quarter. Procyon Advisors LLC now owns 18,660 shares of the biopharmaceutical company’s stock worth $1,055,000 after acquiring an additional 1,423 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 2.1%

Shares of BMY stock opened at $46.77 on Friday. The stock has a market capitalization of $95.18 billion, a PE ratio of -10.58, a P/E/G ratio of 2.07 and a beta of 0.39. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The business has a 50-day moving average of $53.05 and a 200 day moving average of $55.99. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $10.77 billion. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Bristol-Myers Squibb’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($4.40) EPS. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 4th were given a $0.62 dividend. The ex-dividend date was Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.30%. Bristol-Myers Squibb’s dividend payout ratio is currently 92.88%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BMY. Citigroup upped their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Jefferies Financial Group decreased their target price on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. UBS Group decreased their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company increased their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $55.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.00.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the transaction, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

About Bristol-Myers Squibb

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.