Americana Partners LLC Invests $12.08 Million in Bristol-Myers Squibb (NYSE:BMY)

Americana Partners LLC acquired a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, Holdings Channel reports. The fund acquired 213,637 shares of the biopharmaceutical company’s stock, valued at approximately $12,083,000.

Several other hedge funds have also made changes to their positions in the business. Edmp Inc. raised its holdings in Bristol-Myers Squibb by 0.4% during the fourth quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock worth $2,353,000 after purchasing an additional 171 shares in the last quarter. Trust Point Inc. raised its holdings in Bristol-Myers Squibb by 1.9% during the fourth quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock worth $533,000 after purchasing an additional 172 shares in the last quarter. Horst & Graben Wealth Management LLC raised its holdings in Bristol-Myers Squibb by 2.4% during the fourth quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock worth $426,000 after purchasing an additional 179 shares in the last quarter. Meridian Management Co. raised its holdings in Bristol-Myers Squibb by 0.6% during the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock worth $1,463,000 after purchasing an additional 182 shares in the last quarter. Finally, Drive Wealth Management LLC raised its holdings in Bristol-Myers Squibb by 2.1% during the fourth quarter. Drive Wealth Management LLC now owns 8,878 shares of the biopharmaceutical company’s stock worth $502,000 after purchasing an additional 182 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 3.8 %

Bristol-Myers Squibb stock opened at $53.85 on Monday. The company’s fifty day simple moving average is $57.21 and its 200-day simple moving average is $54.10. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10. The stock has a market cap of $109.22 billion, a P/E ratio of -12.18, a P/E/G ratio of 2.13 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.81%. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 6.75 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were issued a dividend of $0.62 per share. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend was Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Bank of America reaffirmed a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Wells Fargo & Company upped their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Finally, Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $57.86.

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.