Aviance Capital Partners LLC Buys 17,396 Shares of Bristol-Myers Squibb (NYSE:BMY)

Aviance Capital Partners LLC raised its stake in Bristol-Myers Squibb (NYSE:BMY) by 22.0% in the first quarter, Holdings Channel reports. The firm owned 96,494 shares of the biopharmaceutical company’s stock after acquiring an additional 17,396 shares during the quarter. Aviance Capital Partners LLC’s holdings in Bristol-Myers Squibb were worth $5,233,000 as of its most recent SEC filing.

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

Bristol-Myers Squibb Trading Up 1.1 %

NYSE BMY traded up $0.46 during midday trading on Monday, hitting $41.99. The company had a trading volume of 5,074,091 shares, compared to its average volume of 15,671,589. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The firm has a 50-day moving average price of $42.97 and a 200-day moving average price of $48.11. Bristol-Myers Squibb has a twelve month low of $39.63 and a twelve month high of $65.38.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate 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 quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.05 EPS. On average, analysts expect that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued 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 dividend yield of 5.72%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Analysts Set New Price Targets

Several brokerages have recently commented on BMY. Wells Fargo & Company lifted their target price 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. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Barclays reduced their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, BMO Capital Markets reduced their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. One equities research 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’s stock. According to MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $60.00.

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.