Pinnacle Bancorp Inc. Grows Stake in Bristol-Myers Squibb (NYSE:BMY)

Pinnacle Bancorp Inc. raised its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 20.5% during the first quarter, HoldingsChannel reports. The firm owned 3,326 shares of the biopharmaceutical company’s stock after buying an additional 565 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Bristol-Myers Squibb were worth $180,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Register Financial Advisors LLC bought a new position in Bristol-Myers Squibb in the 1st quarter worth about $260,000. Capital Asset Advisory Services LLC increased its holdings in Bristol-Myers Squibb by 14.8% during the 1st quarter. Capital Asset Advisory Services LLC now owns 38,809 shares of the biopharmaceutical company’s stock worth $1,992,000 after purchasing an additional 5,010 shares during the period. Fifth Third Wealth Advisors LLC raised its position in Bristol-Myers Squibb by 45.8% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 8,103 shares of the biopharmaceutical company’s stock valued at $439,000 after purchasing an additional 2,547 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in shares of Bristol-Myers Squibb by 45.7% in the 1st quarter. Hennessy Advisors Inc. now owns 104,000 shares of the biopharmaceutical company’s stock worth $5,640,000 after buying an additional 32,600 shares during the period. Finally, Congress Park Capital LLC bought a new position in shares of Bristol-Myers Squibb during the 1st quarter worth $258,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BMY. Barclays lowered their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Finally, Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Performance

NYSE:BMY traded up $0.02 during trading hours on Friday, hitting $41.53. 19,547,917 shares of the company were exchanged, compared to its average volume of 15,754,717. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. Bristol-Myers Squibb has a 52-week low of $39.63 and a 52-week high of $65.38. The stock has a market capitalization of $84.19 billion, a price-to-earnings ratio of -13.40, a PEG ratio of 14.54 and a beta of 0.43. The company’s 50 day moving average price is $42.97 and its 200-day moving average price is $48.16.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.05 earnings per share. As a group, research analysts forecast that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Bristol-Myers Squibb Company 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.