Adell Harriman & Carpenter Inc. Has $301,000 Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Adell Harriman & Carpenter Inc. lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 11.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,870 shares of the biopharmaceutical company’s stock after purchasing an additional 625 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Bristol-Myers Squibb were worth $301,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. increased its stake in shares of Bristol-Myers Squibb by 48.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after purchasing an additional 2,540,360 shares during the last quarter. AustralianSuper Pty Ltd bought a new position in Bristol-Myers Squibb in the 4th quarter valued at $86,965,000. Mizuho Markets Americas LLC purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at $82,405,000. Northern Trust Corp boosted its stake in Bristol-Myers Squibb by 5.8% during the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock valued at $1,467,989,000 after buying an additional 1,394,158 shares during the period. Finally, Invesco Ltd. grew its position in Bristol-Myers Squibb by 8.6% during the third quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after buying an additional 1,240,902 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock traded down $0.30 during trading hours on Tuesday, reaching $44.34. 3,084,220 shares of the stock traded hands, compared to its average volume of 15,813,318. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The firm has a market capitalization of $89.88 billion, a price-to-earnings ratio of -14.40, a P/E/G ratio of 15.47 and a beta of 0.39. Bristol-Myers Squibb has a one year low of $43.97 and a one year high of $69.10. The company has a 50 day moving average price of $50.93 and a 200 day moving average price of $51.02.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $11.45 billion. During the same period last year, the company posted $2.05 EPS. The business’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts expect that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.41%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BMY shares. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Barclays decreased 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 report on Friday. BMO Capital Markets cut their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday. Finally, Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $60.00.

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.