Drive Wealth Management LLC Raises Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Drive Wealth Management LLC increased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,575 shares of the biopharmaceutical company’s stock after purchasing an additional 332 shares during the quarter. Drive Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $465,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $1,560,524,000. Van ECK Associates Corp raised its stake in shares of Bristol-Myers Squibb by 792.6% in the fourth quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock worth $206,828,000 after purchasing an additional 3,579,324 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Bristol-Myers Squibb by 14.6% in the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after purchasing an additional 2,998,228 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Bristol-Myers Squibb by 48.0% during the fourth quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after acquiring an additional 2,540,360 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Bristol-Myers Squibb by 36.7% during the fourth quarter. Franklin Resources Inc. now owns 9,357,199 shares of the biopharmaceutical company’s stock worth $480,118,000 after acquiring an additional 2,510,134 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Trading Up 0.3 %

Bristol-Myers Squibb stock traded up $0.15 during trading on Friday, reaching $44.85. 21,281,927 shares of the company were exchanged, compared to its average volume of 12,141,314. Bristol-Myers Squibb has a 52-week low of $44.34 and a 52-week high of $69.10. The company has a market capitalization of $90.90 billion, a P/E ratio of -14.47, a PEG ratio of 16.25 and a beta of 0.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The stock’s 50 day simple moving average is $51.03 and its two-hundred day simple moving average is $51.18.

Bristol-Myers Squibb (NYSE:BMY) last posted its 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 for the quarter, compared to the consensus estimate of $11.45 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts expect that Bristol-Myers Squibb will post 0.55 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm 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 $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.35%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BMY. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. BMO Capital Markets dropped their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday. Finally, Barclays dropped their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $60.00.

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.