Institute for Wealth Management LLC. Has $1.54 Million Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Institute for Wealth Management LLC. raised its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,056 shares of the biopharmaceutical company’s stock after purchasing an additional 296 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Bristol-Myers Squibb were worth $1,542,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BMY. True Wealth Design LLC acquired a new stake in Bristol-Myers Squibb in the 4th quarter worth $26,000. Coppell Advisory Solutions Corp. acquired a new position in Bristol-Myers Squibb during the 4th quarter valued at about $31,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Bristol-Myers Squibb during the second quarter worth $28,000. Live Oak Investment Partners acquired a new stake in Bristol-Myers Squibb in the fourth quarter worth $33,000. Finally, OFI Invest Asset Management bought a new stake in shares of Bristol-Myers Squibb in the third quarter worth about $25,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BMY. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $61.18.

Bristol-Myers Squibb Trading Up 1.3 %

Shares of NYSE BMY traded up $0.61 during mid-day trading on Friday, hitting $48.91. The stock had a trading volume of 6,938,170 shares, compared to its average volume of 15,660,710. The business has a 50 day moving average price of $51.25 and a two-hundred day moving average price of $51.57. Bristol-Myers Squibb has a 1 year low of $47.58 and a 1 year high of $70.93. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The firm has a market cap of $99.13 billion, a P/E ratio of 12.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.15. The company had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. Bristol-Myers Squibb’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $1.82 earnings per share. On average, equities analysts anticipate that Bristol-Myers Squibb will post 6.63 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.91%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 62.18%.

Bristol-Myers Squibb Company 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.