Bristol-Myers Squibb (NYSE:BMY) Position Increased by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,056 shares of the biopharmaceutical company’s stock after purchasing an additional 296 shares during the period. Institute for Wealth Management LLC.’s holdings in Bristol-Myers Squibb were worth $1,542,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Bristol-Myers Squibb in the third quarter valued at $25,000. True Wealth Design LLC purchased a new position in Bristol-Myers Squibb during the 4th quarter valued at about $26,000. Milestone Investment Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the third quarter worth approximately $27,000. Coppell Advisory Solutions LLC purchased a new position in Bristol-Myers Squibb during the second quarter valued at approximately $28,000. Finally, Blue Bell Private Wealth Management LLC increased its stake in Bristol-Myers Squibb by 61.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 200 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

BMY traded up $0.61 during midday trading on Friday, reaching $48.91. The company’s stock had a trading volume of 6,938,170 shares, compared to its average volume of 15,660,710. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The company has a fifty day simple moving average of $51.25 and a 200 day simple moving average of $51.57. The stock has a market cap of $99.13 billion, a P/E ratio of 12.56, a PEG ratio of 1.44 and a beta of 0.39. Bristol-Myers Squibb has a twelve month low of $47.58 and a twelve month high of $70.93.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.15. The business had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. Bristol-Myers Squibb’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company posted $1.82 earnings per share. Research analysts expect that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is presently 62.18%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BMY. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday. Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Finally, Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.18.

Bristol-Myers Squibb Profile

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.