United Bank Invests $476,000 in Bristol-Myers Squibb (NYSE:BMY) Stock

United Bank acquired a new stake in Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 7,773 shares of the biopharmaceutical company’s stock, valued at approximately $476,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Jackson Grant Investment Advisers Inc. increased its stake in shares of Bristol-Myers Squibb by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 3,905 shares of the biopharmaceutical company’s stock valued at $218,000 after acquiring an additional 15 shares during the last quarter. Chilton Investment Co. LLC increased its stake in shares of Bristol-Myers Squibb by 0.5% during the 2nd quarter. Chilton Investment Co. LLC now owns 5,283 shares of the biopharmaceutical company’s stock valued at $294,000 after acquiring an additional 26 shares during the last quarter. Keel Point LLC increased its stake in shares of Bristol-Myers Squibb by 0.6% during the 2nd quarter. Keel Point LLC now owns 6,325 shares of the biopharmaceutical company’s stock valued at $352,000 after acquiring an additional 39 shares during the last quarter. Intellectus Partners LLC increased its stake in shares of Bristol-Myers Squibb by 2.1% during the 2nd quarter. Intellectus Partners LLC now owns 3,963 shares of the biopharmaceutical company’s stock valued at $221,000 after acquiring an additional 80 shares during the last quarter. Finally, Verition Fund Management LLC increased its stake in shares of Bristol-Myers Squibb by 1.0% during the 2nd quarter. Verition Fund Management LLC now owns 8,190 shares of the biopharmaceutical company’s stock valued at $456,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 71.51% of the company’s stock.

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A number of analysts have recently issued reports on the company. Jefferies Group set a $70.00 target price on Bristol-Myers Squibb and gave the stock a “hold” rating in a report on Friday, March 23rd. ValuEngine cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Vetr upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating and set a $60.72 target price for the company in a report on Thursday, February 1st. Argus reiterated a “buy” rating and set a $66.43 target price (down previously from $75.00) on shares of Bristol-Myers Squibb in a report on Wednesday, March 21st. Finally, Credit Suisse Group set a $62.00 target price on Bristol-Myers Squibb and gave the stock a “hold” rating in a report on Monday, January 22nd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $66.68.

Shares of BMY stock traded down $1.43 on Friday, hitting $60.88. 6,352,752 shares of the stock traded hands, compared to its average volume of 5,604,834. The company has a current ratio of 1.55, a quick ratio of 1.43 and a debt-to-equity ratio of 0.59. The firm has a market cap of $101,726.25, a P/E ratio of 20.23, a P/E/G ratio of 1.62 and a beta of 0.96. Bristol-Myers Squibb has a 1-year low of $51.56 and a 1-year high of $70.05.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Monday, February 5th. The biopharmaceutical company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Bristol-Myers Squibb had a return on equity of 35.43% and a net margin of 4.85%. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the company earned $0.63 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. research analysts forecast that Bristol-Myers Squibb will post 3.22 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Friday, April 6th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Thursday, April 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 53.16%.

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About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in the various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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