Citizens Financial Group Inc. RI Buys 1,646 Shares of Bristol-Myers Squibb (NYSE:BMY)

Citizens Financial Group Inc. RI grew its stake in Bristol-Myers Squibb (NYSE:BMY) by 6.3% during the 4th quarter, HoldingsChannel reports. The fund owned 27,693 shares of the biopharmaceutical company’s stock after purchasing an additional 1,646 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Bristol-Myers Squibb were worth $1,421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BMY. Strategic Blueprint LLC lifted its holdings in shares of Bristol-Myers Squibb by 8.6% during the third quarter. Strategic Blueprint LLC now owns 5,440 shares of the biopharmaceutical company’s stock valued at $316,000 after purchasing an additional 431 shares in the last quarter. Connecticut Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb during the third quarter valued at $240,000. Uncommon Cents Investing LLC bought a new position in shares of Bristol-Myers Squibb during the third quarter valued at $309,000. Quattro Financial Advisors LLC bought a new position in Bristol-Myers Squibb in the third quarter valued at about $2,612,000. Finally, Linden Thomas Advisory Services LLC lifted its holdings in Bristol-Myers Squibb by 54.0% in the third quarter. Linden Thomas Advisory Services LLC now owns 38,449 shares of the biopharmaceutical company’s stock valued at $2,232,000 after acquiring an additional 13,488 shares during the period. 76.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BMY has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. Barclays reduced their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $44.85 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a 12-month low of $44.34 and a 12-month high of $69.10. The stock has a 50-day moving average price of $51.03 and a 200 day moving average price of $51.14. The stock has a market capitalization of $90.90 billion, a P/E ratio of -14.47, a P/E/G ratio of 16.31 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 50.04% and a negative net margin of 13.50%. The company had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same period in the prior year, the company earned $2.05 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. Equities research analysts forecast that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

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.