Avidian Wealth Enterprises LLC Boosts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Avidian Wealth Enterprises LLC increased its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,396 shares of the biopharmaceutical company’s stock after purchasing an additional 301 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Bristol-Myers Squibb were worth $701,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Edmp Inc. grew its holdings in Bristol-Myers Squibb by 0.4% during the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock valued at $2,353,000 after buying an additional 171 shares in the last quarter. Trust Point Inc. boosted its position in shares of Bristol-Myers Squibb by 1.9% in the fourth quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock valued at $533,000 after acquiring an additional 172 shares during the period. Horst & Graben Wealth Management LLC grew its stake 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 valued at $426,000 after acquiring an additional 179 shares in the last quarter. Meridian Management Co. lifted its stake in Bristol-Myers Squibb by 0.6% in the 3rd 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 boosted its holdings in Bristol-Myers Squibb by 2.1% in the 4th quarter. Drive Wealth Management LLC now owns 8,878 shares of the biopharmaceutical company’s stock valued at $502,000 after purchasing an additional 182 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $56.17 on Thursday. The company has a market capitalization of $113.92 billion, a P/E ratio of -12.71, a PEG ratio of 2.13 and a beta of 0.45. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The stock has a 50 day moving average price of $57.42 and a two-hundred day moving average price of $54.00.

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 analysts’ consensus estimates 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%. Analysts expect that Bristol-Myers Squibb will post 6.75 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, January 3rd. 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 4.42%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BMY. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. BMO Capital Markets lifted their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Wells Fargo & Company lifted their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Finally, Bank of America reissued a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $57.86.

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.