Accel Wealth Management Has $213,000 Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Accel Wealth Management raised its position in Bristol-Myers Squibb (NYSE:BMY) by 12.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,146 shares of the biopharmaceutical company’s stock after acquiring an additional 467 shares during the period. Accel Wealth Management’s holdings in Bristol-Myers Squibb were worth $213,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. OFI Invest Asset Management purchased a new position in shares of Bristol-Myers Squibb in the third quarter valued at $25,000. True Wealth Design LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $26,000. Milestone Investment Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $27,000. Coppell Advisory Solutions LLC purchased a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at approximately $28,000. Finally, Blue Bell Private Wealth Management LLC increased its position in Bristol-Myers Squibb by 61.5% during 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 in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on BMY shares. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Wells Fargo & Company lowered their price objective on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 6th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 1st. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $61.12.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock traded up $0.98 on Thursday, reaching $54.23. 14,346,012 shares of the stock were exchanged, compared to its average volume of 16,860,898. Bristol-Myers Squibb has a 1-year low of $47.58 and a 1-year high of $71.07. 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 business has a fifty day moving average price of $50.79 and a two-hundred day moving average price of $52.44. The firm has a market capitalization of $109.91 billion, a PE ratio of 14.08, a PEG ratio of 1.59 and a beta of 0.38.

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, beating 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%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.82 earnings per share. As a group, research analysts anticipate that Bristol-Myers Squibb will post 6.61 earnings per share for the current fiscal year.

Bristol-Myers Squibb announced that its Board of Directors has initiated a stock buyback plan on Thursday, December 7th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to buy up to 2.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.43%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is currently 62.18%.

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.