Naviter Wealth LLC Has $1.29 Million Holdings in Bristol-Myers Squibb (NYSE:BMY)

Naviter Wealth LLC raised its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 64.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,719 shares of the biopharmaceutical company’s stock after buying an additional 9,284 shares during the quarter. Naviter Wealth LLC’s holdings in Bristol-Myers Squibb were worth $1,286,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Westside Investment Management Inc. lifted its stake in shares of Bristol-Myers Squibb by 2.9% in the 4th quarter. Westside Investment Management Inc. now owns 7,156 shares of the biopharmaceutical company’s stock valued at $367,000 after purchasing an additional 204 shares during the period. Traynor Capital Management Inc. grew its position in shares of Bristol-Myers Squibb by 2.8% in the 1st quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock worth $416,000 after buying an additional 207 shares during the period. Fulton Breakefield Broenniman LLC increased its stake in shares of Bristol-Myers Squibb by 4.6% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 4,744 shares of the biopharmaceutical company’s stock worth $243,000 after acquiring an additional 209 shares in the last quarter. Chapin Davis Inc. boosted its stake in Bristol-Myers Squibb by 1.2% during the fourth quarter. Chapin Davis Inc. now owns 18,385 shares of the biopharmaceutical company’s stock worth $943,000 after acquiring an additional 214 shares in the last quarter. Finally, Tilson Financial Group Inc. increased its stake in shares of Bristol-Myers Squibb by 3.7% during the fourth quarter. Tilson Financial Group Inc. now owns 6,258 shares of the biopharmaceutical company’s stock valued at $321,000 after purchasing an additional 221 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $40.46 on Wednesday. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. Bristol-Myers Squibb has a 12 month low of $39.63 and a 12 month high of $65.38. The stock’s 50 day moving average is $42.81 and its 200 day moving average is $48.04.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter in the previous year, the business earned $2.05 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, research analysts expect that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.93%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BMY. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Wells Fargo & Company increased their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. BMO Capital Markets decreased their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Finally, Barclays cut their target price 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 issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.