SVB Wealth LLC Raises Stake in Bristol-Myers Squibb (NYSE:BMY)

SVB Wealth LLC increased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,443 shares of the biopharmaceutical company’s stock after buying an additional 367 shares during the period. SVB Wealth LLC’s holdings in Bristol-Myers Squibb were worth $4,795,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BMY. Dakota Wealth Management acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at about $332,000. Covestor Ltd increased its stake in shares of Bristol-Myers Squibb by 111.5% during the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock valued at $150,000 after acquiring an additional 1,082 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 53.2% during the 1st quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after acquiring an additional 57,444 shares during the last quarter. Ergoteles LLC acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at about $1,997,000. Finally, Mackenzie Financial Corp increased its stake in shares of Bristol-Myers Squibb by 25.1% during the 1st quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after acquiring an additional 68,018 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $48.27 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The firm has a market cap of $97.83 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.46 and a beta of 0.39. Bristol-Myers Squibb has a 12-month low of $47.58 and a 12-month high of $70.93. The stock’s 50 day simple moving average is $51.27 and its 200 day simple moving average is $51.62.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results 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. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business had revenue of $11.48 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same period in the prior year, the company posted $1.82 EPS. The business’s revenue was up .6% compared to the same quarter last year. As a group, equities 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 announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 62.18%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BMY shares. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Redburn Atlantic cut 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 report on Tuesday, February 6th. Wells Fargo & Company decreased 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. Finally, Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $61.12.

About Bristol-Myers Squibb

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.