Adams Asset Advisors LLC Acquires 170,753 Shares of Bristol-Myers Squibb (NYSE:BMY)

Adams Asset Advisors LLC increased its holdings in Bristol-Myers Squibb (NYSE:BMYFree Report) by 3,104.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 176,253 shares of the biopharmaceutical company’s stock after purchasing an additional 170,753 shares during the period. Bristol-Myers Squibb makes up about 1.2% of Adams Asset Advisors LLC’s investment portfolio, making the stock its 25th largest position. Adams Asset Advisors LLC’s holdings in Bristol-Myers Squibb were worth $9,044,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Brown Shipley& Co Ltd boosted its stake in Bristol-Myers Squibb by 1.8% during the second quarter. Brown Shipley& Co Ltd now owns 9,161 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 164 shares during the period. Riversedge Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 3.2% during the third quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock valued at $330,000 after purchasing an additional 178 shares during the period. Vicus Capital lifted its stake in Bristol-Myers Squibb by 3.9% in the third quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock worth $280,000 after acquiring an additional 179 shares during the period. Cassia Capital Partners LLC lifted its stake in Bristol-Myers Squibb by 2.3% in the third quarter. Cassia Capital Partners LLC now owns 7,931 shares of the biopharmaceutical company’s stock worth $460,000 after acquiring an additional 182 shares during the period. Finally, Lindbrook Capital LLC lifted its stake in Bristol-Myers Squibb by 2.3% in the third quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock worth $468,000 after acquiring an additional 182 shares during the period. Institutional investors own 74.98% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.7 %

Shares of BMY opened at $51.93 on Friday. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $71.07. The company has a market capitalization of $105.25 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 1.57 and a beta of 0.38. The stock has a fifty day simple moving average of $50.60 and a two-hundred day simple moving average of $52.72. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last issued its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. The business had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the company earned $1.82 EPS. As a group, equities analysts forecast that Bristol-Myers Squibb will post 6.61 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 62.18%.

Bristol-Myers Squibb declared that its Board of Directors has approved a share repurchase plan on Thursday, December 7th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the biopharmaceutical company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of research reports. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Finally, Wells Fargo & Company cut their price objective on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $61.12.

Read Our Latest Research Report on BMY

About Bristol-Myers Squibb

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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