Bristol-Myers Squibb (NYSE:BMY) Holdings Boosted by Austin Private Wealth LLC

Austin Private Wealth LLC grew its holdings in Bristol-Myers Squibb (NYSE:BMY) by 27.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,643 shares of the biopharmaceutical company’s stock after purchasing an additional 994 shares during the period. Austin Private Wealth LLC’s holdings in Bristol-Myers Squibb were worth $238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp grew its holdings in shares of Bristol-Myers Squibb by 0.9% during the 2nd quarter. State Street Corp now owns 92,570,288 shares of the biopharmaceutical company’s stock valued at $5,919,870,000 after acquiring an additional 858,922 shares in the last quarter. Norges Bank acquired a new position in Bristol-Myers Squibb in the 4th quarter worth about $1,873,696,000. Northern Trust Corp lifted its holdings in shares of Bristol-Myers Squibb by 5.8% during the 3rd 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 last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 114,228.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock valued at $1,544,751,000 after buying an additional 21,451,006 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Bristol-Myers Squibb by 8.6% in 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 during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

NYSE:BMY traded up $0.98 on Thursday, reaching $54.23. The stock had a trading volume of 14,346,012 shares, compared to its average volume of 16,860,898. 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 company has a market capitalization of $109.91 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 1.59 and a beta of 0.38. Bristol-Myers Squibb has a 1-year low of $47.58 and a 1-year high of $71.07. The stock has a fifty day moving average price of $50.79 and a 200-day moving average price of $52.44.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.15. The firm had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 EPS. Research analysts forecast that Bristol-Myers Squibb will post 6.61 EPS for the current year.

Bristol-Myers Squibb announced that its Board of Directors has authorized a stock buyback program on Thursday, December 7th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the biopharmaceutical company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed 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. This represents a $2.40 annualized dividend and a yield of 4.43%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is 62.18%.

Analyst Ratings Changes

Several research firms have weighed in on BMY. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Wells Fargo & Company reduced their target price on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Tuesday, February 6th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 1st. Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Finally, Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $61.12.

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.