Sheaff Brock Investment Advisors LLC Increases Holdings in Bristol-Myers Squibb (NYSE:BMY)

Sheaff Brock Investment Advisors LLC grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,954 shares of the biopharmaceutical company’s stock after buying an additional 808 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,841,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. CoreCap Advisors LLC increased its position in shares of Bristol-Myers Squibb by 34.3% during the fourth quarter. CoreCap Advisors LLC now owns 7,609 shares of the biopharmaceutical company’s stock worth $390,000 after acquiring an additional 1,944 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Bristol-Myers Squibb by 3.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 98,394 shares of the biopharmaceutical company’s stock valued at $5,049,000 after purchasing an additional 3,313 shares in the last quarter. Blackston Financial Advisory Group LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $219,000. PFG Investments LLC boosted its stake in shares of Bristol-Myers Squibb by 19.5% during the fourth quarter. PFG Investments LLC now owns 16,143 shares of the biopharmaceutical company’s stock valued at $828,000 after purchasing an additional 2,638 shares in the last quarter. Finally, Viking Fund Management LLC boosted its stake in shares of Bristol-Myers Squibb by 13.6% during the fourth quarter. Viking Fund Management LLC now owns 100,000 shares of the biopharmaceutical company’s stock valued at $5,131,000 after purchasing an additional 12,000 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY traded up $5.13 during midday trading on Friday, reaching $50.40. The company had a trading volume of 36,625,950 shares, compared to its average volume of 15,918,454. The business’s 50-day simple moving average is $41.63 and its 200 day simple moving average is $46.83. The stock has a market cap of $102.17 billion, a P/E ratio of -15.75, a P/E/G ratio of 16.73 and a beta of 0.44. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.41. 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 (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.40. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The firm had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter last year, the company posted $1.75 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, analysts forecast that Bristol-Myers Squibb will post 0.53 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 4.76%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Analysts Set New Price Targets

BMY has been the topic of a number of recent research reports. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. BMO Capital Markets dropped their price objective on shares of 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. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. Barclays lowered their target price on shares of Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $57.73.

About Bristol-Myers Squibb

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.