Ascent Group LLC Increases Position in Bristol-Myers Squibb (NYSE:BMY)

Ascent Group LLC grew its position in Bristol-Myers Squibb (NYSE:BMY) by 37.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,469 shares of the biopharmaceutical company’s stock after buying an additional 12,227 shares during the period. Ascent Group LLC’s holdings in Bristol-Myers Squibb were worth $2,515,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BMY. Pinney & Scofield Inc. purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $25,000. Fairway Wealth LLC purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $28,000. Transce3nd LLC purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $28,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $34,000. Finally, Tacita Capital Inc purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $46.88 on Monday. The firm has a market cap of $95.40 billion, a PE ratio of -10.61, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The company’s 50 day moving average is $51.79 and its two-hundred day moving average is $55.72.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. The company had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business earned ($4.40) EPS. On average, research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 4th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 5.29%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BMY shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $55.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Argus upgraded shares of Bristol-Myers Squibb to a “hold” rating in a report on Friday, April 25th. Wells Fargo & Company upped their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Finally, UBS Group decreased their price objective on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $58.00.

Insider Activity

In other news, EVP Samit Hirawat bought 4,250 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the purchase, the executive vice president now owns 83,513 shares in the company, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

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.