Adell Harriman & Carpenter Inc. Boosts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Adell Harriman & Carpenter Inc. increased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 11.9% during the 4th quarter, HoldingsChannel reports. The fund owned 5,870 shares of the biopharmaceutical company’s stock after acquiring an additional 625 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Bristol-Myers Squibb were worth $301,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in BMY. OFI Invest Asset Management bought a new position in Bristol-Myers Squibb during the third quarter worth $25,000. Milestone Investment Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the third quarter worth $27,000. Blue Bell Private Wealth Management LLC boosted its position in shares of 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 valued at $30,000 after purchasing an additional 200 shares in the last quarter. Legacy Financial Group LLC purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $39,000. Finally, VisionPoint Advisory Group LLC raised its stake in Bristol-Myers Squibb by 300.5% during the third quarter. VisionPoint Advisory Group LLC now owns 737 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 553 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.7 %

BMY stock traded down $0.30 during midday trading on Tuesday, hitting $44.34. The company’s stock had a trading volume of 3,084,220 shares, compared to its average volume of 15,813,318. Bristol-Myers Squibb has a 52-week low of $43.97 and a 52-week high of $69.10. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The firm has a market capitalization of $89.88 billion, a P/E ratio of -14.40, a PEG ratio of 15.47 and a beta of 0.39. The firm has a 50-day simple moving average of $50.93 and a 200-day simple moving average of $51.02.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The company had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.05 EPS. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.41%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analysts Set New Price Targets

BMY has been the topic of a number of research reports. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Finally, Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. One 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’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $60.00.

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.