McClarren Financial Advisors Inc. Increases Position in Bristol-Myers Squibb (NYSE:BMY)

McClarren Financial Advisors Inc. increased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 532.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,879 shares of the biopharmaceutical company’s stock after acquiring an additional 1,582 shares during the period. McClarren Financial Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $96,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in shares of Bristol-Myers Squibb in the third quarter valued at approximately $25,000. Milestone Investment Advisors LLC acquired a new position in Bristol-Myers Squibb in the 3rd quarter valued at $27,000. Blue Bell Private Wealth Management LLC raised its position in Bristol-Myers Squibb by 61.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 200 shares during the last quarter. Legacy Financial Group LLC acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth $39,000. Finally, VisionPoint Advisory Group LLC boosted its holdings in shares of Bristol-Myers Squibb by 300.5% in the third quarter. VisionPoint Advisory Group LLC now owns 737 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 553 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BMY has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Finally, Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average target price of $61.18.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY traded down $4.18 on Thursday, hitting $44.68. The company’s stock had a trading volume of 45,047,382 shares, compared to its average volume of 15,901,512. The stock has a 50 day moving average of $51.13 and a 200-day moving average of $51.26. The company has a market capitalization of $90.56 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 1.48 and a beta of 0.39. Bristol-Myers Squibb has a 12-month low of $44.37 and a 12-month high of $69.74. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.53) by $0.13. The firm had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 EPS. As a group, research analysts predict that Bristol-Myers Squibb will post 6.63 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 62.18%.

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.