SVB Wealth LLC Boosts Stake in Bristol-Myers Squibb (NYSE:BMY)

SVB Wealth LLC grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 93,443 shares of the biopharmaceutical company’s stock after buying an additional 367 shares during the quarter. SVB Wealth LLC’s holdings in Bristol-Myers Squibb were worth $4,795,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of Bristol-Myers Squibb in the third quarter valued at about $25,000. True Wealth Design LLC purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at about $26,000. Milestone Investment Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the third quarter valued at about $27,000. Coppell Advisory Solutions LLC purchased a new position in shares of Bristol-Myers Squibb in the second quarter valued at about $28,000. Finally, Blue Bell Private Wealth Management LLC increased its position in shares of Bristol-Myers Squibb by 61.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

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

Bristol-Myers Squibb Stock Down 0.5 %

BMY opened at $48.27 on Wednesday. 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 firm has a 50 day moving average price of $51.27 and a 200-day moving average price of $51.62. Bristol-Myers Squibb has a twelve month low of $47.58 and a twelve month high of $70.93. The stock has a market capitalization of $97.83 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.46 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS 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 business had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same period in the prior year, the company earned $1.82 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. Equities research analysts forecast that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.97%. Bristol-Myers Squibb’s dividend 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.