CGN Advisors LLC Has $2.21 Million Holdings in Bristol-Myers Squibb (NYSE:BMY)

CGN Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 40.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,695 shares of the biopharmaceutical company’s stock after acquiring an additional 11,715 shares during the quarter. CGN Advisors LLC’s holdings in Bristol-Myers Squibb were worth $2,207,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BMY. Norges Bank acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $1,560,524,000. Primecap Management Co. CA increased its stake in shares of Bristol-Myers Squibb by 14.6% in the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after purchasing an additional 2,998,228 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Bristol-Myers Squibb by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock worth $870,198,000 after purchasing an additional 1,246,066 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Bristol-Myers Squibb by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,361,717 shares of the biopharmaceutical company’s stock worth $582,970,000 after purchasing an additional 134,815 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Bristol-Myers Squibb by 36.7% in the fourth quarter. Franklin Resources Inc. now owns 9,357,199 shares of the biopharmaceutical company’s stock worth $480,118,000 after purchasing an additional 2,510,134 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $42.20 on Tuesday. The stock has a 50-day moving average price of $43.48 and a two-hundred day moving average price of $48.37. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. Bristol-Myers Squibb has a 1 year low of $39.63 and a 1 year high of $65.38.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 EPS. Analysts expect that Bristol-Myers Squibb will post 0.6 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.69%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. BMO Capital Markets lowered their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 17th. Finally, Barclays lowered their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. One 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. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Company 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.