MBL Wealth LLC Purchases 545 Shares of Bristol-Myers Squibb (NYSE:BMY)

MBL Wealth LLC boosted its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 14.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,193 shares of the biopharmaceutical company’s stock after purchasing an additional 545 shares during the period. MBL Wealth LLC’s holdings in Bristol-Myers Squibb were worth $215,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BMY. Norges Bank bought a new position in Bristol-Myers Squibb in the 4th quarter worth about $1,873,696,000. Moneta Group Investment Advisors LLC grew its stake in 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 worth $1,544,751,000 after acquiring an additional 21,451,006 shares in the last quarter. Pacer Advisors Inc. grew its stake in Bristol-Myers Squibb by 48.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after acquiring an additional 2,540,360 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in Bristol-Myers Squibb in the 4th quarter worth about $86,965,000. Finally, Cowa LLC lifted its position in shares of Bristol-Myers Squibb by 9,777.8% in the 1st 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 period. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Bristol-Myers Squibb Stock Up 1.8 %

Bristol-Myers Squibb stock traded up $0.98 during trading on Friday, reaching $54.23. The stock had a trading volume of 14,348,196 shares, compared to its average volume of 20,769,094. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $71.07. The business has a 50 day moving average price of $50.79 and a 200 day moving average price of $52.44. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. The stock has a market cap of $109.91 billion, a PE ratio of 14.05, a P/E/G ratio of 1.61 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts predict that Bristol-Myers Squibb will post 6.61 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business 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 dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.43%. Bristol-Myers Squibb’s dividend payout ratio is presently 62.18%.

Bristol-Myers Squibb announced that its Board of Directors has authorized a stock repurchase program on Thursday, December 7th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the biopharmaceutical company to buy up to 2.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.