Kovack Advisors Inc. Buys 5,279 Shares of Bristol-Myers Squibb (NYSE:BMY)

Kovack Advisors Inc. grew its stake in Bristol-Myers Squibb (NYSE:BMY) by 29.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,025 shares of the biopharmaceutical company’s stock after acquiring an additional 5,279 shares during the period. Kovack Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $1,181,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of Bristol-Myers Squibb during the third quarter worth approximately $25,000. Milestone Investment Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the third quarter worth approximately $27,000. Blue Bell Private Wealth Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 200 shares during the period. Legacy Financial Group LLC bought a new stake in shares of Bristol-Myers Squibb during the third quarter worth approximately $39,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $40,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 0.3 %

Shares of Bristol-Myers Squibb stock traded up $0.15 during trading on Friday, hitting $44.85. The company’s stock had a trading volume of 21,281,927 shares, compared to its average volume of 12,141,314. 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 has a 52 week low of $44.34 and a 52 week high of $69.10. The stock has a market cap of $90.90 billion, a price-to-earnings ratio of -14.47, a price-to-earnings-growth ratio of 16.25 and a beta of 0.39. The stock has a 50-day moving average price of $51.03 and a two-hundred day moving average price of $51.18.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results 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 business had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 50.04%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Equities research analysts anticipate that Bristol-Myers Squibb will post 0.55 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared 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 5.35%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BMY shares. Barclays dropped their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday. Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. BMO Capital Markets dropped their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. Finally, Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the company 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 given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $60.00.

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.