MBA Advisors LLC Lowers Stock Position in Bristol-Myers Squibb (NYSE:BMY)

MBA Advisors LLC lessened its holdings in Bristol-Myers Squibb (NYSE:BMYFree Report) by 33.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,991 shares of the biopharmaceutical company’s stock after selling 3,995 shares during the period. MBA Advisors LLC’s holdings in Bristol-Myers Squibb were worth $410,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of BMY. Brown Shipley& Co Ltd grew its holdings in shares of Bristol-Myers Squibb by 1.8% in the second quarter. Brown Shipley& Co Ltd now owns 9,161 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 164 shares in the last quarter. Riversedge Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 3.2% in the third quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock valued at $330,000 after purchasing an additional 178 shares in the last quarter. Vicus Capital grew its holdings in shares of Bristol-Myers Squibb by 3.9% in the third quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock valued at $280,000 after purchasing an additional 179 shares in the last quarter. Front Row Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 17.5% in the fourth quarter. Front Row Advisors LLC now owns 1,222 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 182 shares in the last quarter. Finally, Cassia Capital Partners LLC grew its holdings in Bristol-Myers Squibb by 2.3% during the 3rd quarter. Cassia Capital Partners LLC now owns 7,931 shares of the biopharmaceutical company’s stock worth $460,000 after acquiring an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 1.8 %

Shares of Bristol-Myers Squibb stock opened at $54.23 on Monday. The company has a market cap of $109.91 billion, a P/E ratio of 14.05, a PEG ratio of 1.64 and a beta of 0.38. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $71.07. The firm has a fifty day moving average of $50.96 and a two-hundred day moving average of $52.35.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last announced its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. The company had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. Bristol-Myers Squibb’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.82 EPS. On average, analysts forecast that Bristol-Myers Squibb will post 6.61 earnings per share for the current year.

Bristol-Myers Squibb declared that its board has authorized a share buyback program on Thursday, December 7th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to purchase up to 2.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership 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 given a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.43%. Bristol-Myers Squibb’s payout ratio is currently 62.18%.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Analysis on Bristol-Myers Squibb

Bristol-Myers Squibb Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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