J.P. Marvel Investment Advisors LLC Has $9.01 Million Position in Bristol-Myers Squibb (NYSE:BMY)

J.P. Marvel Investment Advisors LLC lowered its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,344 shares of the biopharmaceutical company’s stock after selling 730 shares during the period. Bristol-Myers Squibb comprises 1.5% of J.P. Marvel Investment Advisors LLC’s portfolio, making the stock its 19th largest holding. J.P. Marvel Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $9,012,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC lifted its position in Bristol-Myers Squibb by 10.5% during the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after buying an additional 4,275,787 shares in the last quarter. Jennison Associates LLC lifted its position in Bristol-Myers Squibb by 420.1% during the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock worth $219,443,000 after buying an additional 3,425,789 shares in the last quarter. Janus Henderson Group PLC lifted its position in Bristol-Myers Squibb by 695.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock worth $183,971,000 after buying an additional 3,107,672 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Bristol-Myers Squibb by 18.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock worth $986,931,000 after buying an additional 3,002,418 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Bristol-Myers Squibb by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock worth $3,157,713,000 after purchasing an additional 1,968,729 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on BMY shares. BMO Capital Markets boosted their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Citigroup boosted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Wells Fargo & Company boosted their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald upped their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Stock Down 3.8 %

BMY stock opened at $53.85 on Friday. The stock’s fifty day simple moving average is $57.21 and its two-hundred day simple moving average is $54.07. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.10. The stock has a market cap of $109.22 billion, a P/E ratio of -12.18, a P/E/G ratio of 2.13 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.81% and a negative net margin of 18.53%. Analysts expect that Bristol-Myers Squibb will post 6.75 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.61%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is presently -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.