TB Alternative Assets Ltd. Buys Shares of 194,550 Bristol-Myers Squibb (NYSE:BMY)

TB Alternative Assets Ltd. bought a new stake in Bristol-Myers Squibb (NYSE:BMY) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 194,550 shares of the biopharmaceutical company’s stock, valued at approximately $10,550,000. Bristol-Myers Squibb comprises approximately 2.6% of TB Alternative Assets Ltd.’s portfolio, making the stock its 10th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. McClarren Financial Advisors Inc. raised its position in shares of Bristol-Myers Squibb by 532.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock valued at $96,000 after purchasing an additional 1,582 shares during the period. Institute for Wealth Management LLC. increased its holdings in Bristol-Myers Squibb by 1.0% during the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock worth $1,542,000 after acquiring an additional 296 shares during the period. Great Diamond Partners LLC increased its holdings in Bristol-Myers Squibb by 9.2% during the 4th quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock worth $224,000 after acquiring an additional 367 shares during the period. Global Assets Advisory LLC bought a new stake in Bristol-Myers Squibb during the 1st quarter worth approximately $5,161,000. Finally, Principal Securities Inc. bought a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $1,139,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BMY. Barclays decreased their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Wells Fargo & Company increased their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, June 17th. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, BMO Capital Markets decreased their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Stock Up 0.7 %

Shares of Bristol-Myers Squibb stock traded up $0.31 during trading on Wednesday, hitting $42.50. The company’s stock had a trading volume of 19,491,088 shares, compared to its average volume of 15,706,302. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The company has a fifty day simple moving average of $43.36 and a two-hundred day simple moving average of $48.31. The company has a market capitalization of $86.15 billion, a PE ratio of -13.74, a P/E/G ratio of 14.28 and a beta of 0.43. Bristol-Myers Squibb has a 52 week low of $39.63 and a 52 week high of $65.38.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. Bristol-Myers Squibb’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $2.05 EPS. Equities research analysts predict that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a yield of 5.65%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.