Blackston Financial Advisory Group LLC Makes New $219,000 Investment in Bristol-Myers Squibb (NYSE:BMY)

Blackston Financial Advisory Group LLC purchased a new position in Bristol-Myers Squibb (NYSE:BMY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,267 shares of the biopharmaceutical company’s stock, valued at approximately $219,000.

A number of other large investors have also bought and sold shares of the stock. Brown Shipley& Co Ltd raised its stake in shares of Bristol-Myers Squibb by 1.8% in 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 lifted its stake in shares of Bristol-Myers Squibb by 3.2% during the 3rd quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock valued at $330,000 after buying an additional 178 shares in the last quarter. Vicus Capital boosted its holdings in Bristol-Myers Squibb by 3.9% in the 3rd quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock worth $280,000 after buying an additional 179 shares during the period. Front Row Advisors LLC raised its holdings in Bristol-Myers Squibb by 17.5% during the fourth quarter. Front Row Advisors LLC now owns 1,222 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 182 shares during the period. Finally, Cassia Capital Partners LLC boosted its stake in shares of 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. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Up 1.3 %

Shares of NYSE:BMY opened at $53.25 on Thursday. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $71.07. The stock has a market cap of $107.92 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 1.58 and a beta of 0.38. The business’s 50 day moving average is $50.73 and its 200 day moving average is $52.43. 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:BMY) last announced its quarterly earnings data 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. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter in the prior year, the firm earned $1.82 earnings per share. Bristol-Myers Squibb’s revenue was up .6% compared to the same quarter last year. Sell-side analysts predict that Bristol-Myers Squibb will post 6.61 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 4.51%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

Bristol-Myers Squibb announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 7th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

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

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.