Montag A & Associates Inc. Grows Position in Bristol-Myers Squibb (NYSE:BMY)

Montag A & Associates Inc. lifted its stake in Bristol-Myers Squibb (NYSE:BMY) by 9.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,999 shares of the biopharmaceutical company’s stock after buying an additional 1,758 shares during the quarter. Montag A & Associates Inc.’s holdings in Bristol-Myers Squibb were worth $1,139,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Westside Investment Management Inc. lifted its holdings in shares of Bristol-Myers Squibb by 2.9% in the fourth quarter. Westside Investment Management Inc. now owns 7,156 shares of the biopharmaceutical company’s stock worth $367,000 after buying an additional 204 shares in the last quarter. Traynor Capital Management Inc. increased its position in Bristol-Myers Squibb by 2.8% in the first quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock worth $416,000 after purchasing an additional 207 shares during the last quarter. Fulton Breakefield Broenniman LLC increased its position in Bristol-Myers Squibb by 4.6% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 4,744 shares of the biopharmaceutical company’s stock worth $243,000 after purchasing an additional 209 shares during the last quarter. Chapin Davis Inc. increased its position in Bristol-Myers Squibb by 1.2% in the fourth quarter. Chapin Davis Inc. now owns 18,385 shares of the biopharmaceutical company’s stock worth $943,000 after purchasing an additional 214 shares during the last quarter. Finally, Accurate Wealth Management LLC increased its position in Bristol-Myers Squibb by 4.0% in the first quarter. Accurate Wealth Management LLC now owns 5,612 shares of the biopharmaceutical company’s stock worth $304,000 after purchasing an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.8 %

Shares of BMY stock traded down $0.32 during mid-day trading on Monday, hitting $40.14. 6,569,477 shares of the stock traded hands, compared to its average volume of 15,620,978. The stock has a market cap of $81.37 billion, a P/E ratio of -12.92, a P/E/G ratio of 14.05 and a beta of 0.44. The stock’s fifty day moving average is $41.92 and its two-hundred day moving average is $47.33. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $65.38. 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 (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same period in the prior year, the firm posted $2.05 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts predict that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.98%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BMY. Wells Fargo & Company boosted their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Barclays cut their price target on shares of Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. Finally, BMO Capital Markets cut their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $59.07.

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.