SVB Wealth LLC Makes New $4.94 Million Investment in Bristol-Myers Squibb (NYSE:BMY)

SVB Wealth LLC purchased a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 87,294 shares of the biopharmaceutical company’s stock, valued at approximately $4,937,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC grew its holdings in Bristol-Myers Squibb by 10.5% during the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after acquiring an additional 4,275,787 shares during the period. Jennison Associates LLC grew its stake in shares of Bristol-Myers Squibb by 420.1% in the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock worth $219,443,000 after purchasing an additional 3,425,789 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Bristol-Myers Squibb by 695.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock worth $183,971,000 after purchasing an additional 3,107,672 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Bristol-Myers Squibb by 18.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock valued at $986,931,000 after purchasing an additional 3,002,418 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Bristol-Myers Squibb by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock worth $3,157,713,000 after buying an additional 1,968,729 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on BMY. Morgan Stanley increased their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Citigroup lifted their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their target price for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Finally, Bank of America restated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $57.86.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the stock in a transaction on Friday, February 14th. The shares were purchased at an average price of $54.84 per share, with a total value of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $59.71 on Friday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.10. The company has a fifty day moving average price of $57.15 and a 200 day moving average price of $54.74. The stock has a market cap of $121.17 billion, a P/E ratio of -13.51, a PEG ratio of 2.07 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. Analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.15%. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

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.