SVB Wealth LLC Increases Holdings in Bristol-Myers Squibb (NYSE:BMY)

SVB Wealth LLC grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 93,979 shares of the biopharmaceutical company’s stock after acquiring an additional 536 shares during the quarter. SVB Wealth LLC’s holdings in Bristol-Myers Squibb were worth $5,096,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. McClarren Financial Advisors Inc. raised its position in shares of Bristol-Myers Squibb by 532.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock valued at $96,000 after buying an additional 1,582 shares in the last quarter. Institute for Wealth Management LLC. raised its position in Bristol-Myers Squibb by 1.0% in the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock worth $1,542,000 after purchasing an additional 296 shares during the period. Great Diamond Partners LLC raised its position in Bristol-Myers Squibb by 9.2% in the 4th quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock worth $224,000 after purchasing an additional 367 shares during the period. Global Assets Advisory LLC purchased a new stake in Bristol-Myers Squibb in the 1st quarter worth about $5,161,000. Finally, Principal Securities Inc. purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth about $1,139,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Down 2.9 %

Shares of NYSE BMY traded down $1.48 during midday trading on Monday, reaching $48.97. 22,276,796 shares of the company’s stock traded hands, compared to its average volume of 15,962,543. 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 stock’s 50 day simple moving average is $41.76 and its 200-day simple moving average is $46.76. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.41. The company has a market cap of $99.27 billion, a price-to-earnings ratio of -16.35, a P/E/G ratio of 17.25 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 11.52%. The company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter in the prior year, the company posted $1.75 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts predict that Bristol-Myers Squibb will post 0.59 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a yield of 4.90%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Wells Fargo & Company upped their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Barclays downgraded shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 target price on the stock. in a research note on Monday. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $55.79.

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.