Resonant Capital Advisors LLC Raises Position in Bristol-Myers Squibb (NYSE:BMY)

Resonant Capital Advisors LLC boosted its position in Bristol-Myers Squibb (NYSE:BMY) by 15.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 50,023 shares of the biopharmaceutical company’s stock after purchasing an additional 6,863 shares during the period. Resonant Capital Advisors LLC’s holdings in Bristol-Myers Squibb were worth $2,567,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in Bristol-Myers Squibb in the 4th quarter valued at approximately $1,873,696,000. Moneta Group Investment Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 114,228.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock valued at $1,544,751,000 after acquiring an additional 21,451,006 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Bristol-Myers Squibb by 48.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after acquiring an additional 2,540,360 shares during the last quarter. AustralianSuper Pty Ltd purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $86,965,000. Finally, Cowa LLC increased its position in shares of Bristol-Myers Squibb by 9,777.8% in the first quarter. Cowa LLC now owns 1,657,894 shares of the biopharmaceutical company’s stock worth $1,211,000 after purchasing an additional 1,641,110 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Stock Performance

NYSE:BMY traded up $0.63 during mid-day trading on Friday, reaching $48.93. The company’s stock had a trading volume of 6,554,004 shares, compared to its average volume of 15,655,852. The firm’s fifty day moving average price is $51.25 and its two-hundred day moving average price is $51.57. 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 stock has a market cap of $99.17 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 12-month low of $47.58 and a 12-month high of $70.93.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the prior year, the firm earned $1.82 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities analysts forecast that Bristol-Myers Squibb will post 6.63 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Finally, Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.