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

Avidian Wealth Enterprises LLC grew its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.5% in the 4th quarter, Holdings Channel reports. The firm owned 12,396 shares of the biopharmaceutical company’s stock after purchasing an additional 301 shares during the period. 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 large investors have also recently modified their holdings of the stock. Kentucky Trust Co bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $389,000. Viewpoint Capital Management LLC boosted its position in shares of Bristol-Myers Squibb by 8.4% during the fourth quarter. Viewpoint Capital Management LLC now owns 33,155 shares of the biopharmaceutical company’s stock valued at $1,875,000 after purchasing an additional 2,579 shares in the last quarter. TFB Advisors LLC grew its stake in Bristol-Myers Squibb by 14.9% in the fourth quarter. TFB Advisors LLC now owns 4,787 shares of the biopharmaceutical company’s stock worth $271,000 after purchasing an additional 621 shares during the period. Signet Investment Advisory Group Inc. raised its holdings in Bristol-Myers Squibb by 2.3% in the fourth quarter. Signet Investment Advisory Group Inc. now owns 8,261 shares of the biopharmaceutical company’s stock worth $467,000 after purchasing an additional 189 shares in the last quarter. Finally, Authentikos Wealth Advisory LLC purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at $266,000. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BMY shares. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their target price for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price for the company. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, BMO Capital Markets lifted their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $56.17 on Thursday. The firm’s 50-day moving average price is $57.42 and its 200-day moving average price is $54.00. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.10. The company has a market cap of $113.92 billion, a PE ratio of -12.71, a PEG ratio of 2.13 and a beta of 0.45. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, analysts anticipate that Bristol-Myers Squibb will post 6.75 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were issued a $0.62 dividend. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.42%. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

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.