Viking Fund Management LLC Has $5.57 Million Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Viking Fund Management LLC increased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,700 shares of the biopharmaceutical company’s stock after purchasing an additional 2,700 shares during the quarter. Viking Fund Management LLC’s holdings in Bristol-Myers Squibb were worth $5,569,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. grew its holdings in Bristol-Myers Squibb by 532.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock worth $96,000 after acquiring an additional 1,582 shares during the last quarter. Institute for Wealth Management LLC. grew its holdings in Bristol-Myers Squibb by 1.0% during the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock worth $1,542,000 after acquiring an additional 296 shares during the last quarter. Great Diamond Partners LLC grew its holdings in Bristol-Myers Squibb by 9.2% during the 4th quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock worth $224,000 after acquiring an additional 367 shares during the last quarter. Global Assets Advisory LLC bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at $5,161,000. Finally, Principal Securities Inc. bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $1,139,000. 76.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of analyst reports. BMO Capital Markets reduced their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Wells Fargo & Company upped their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Barclays reduced their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Finally, StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Stock Down 2.1 %

BMY traded down $0.90 during trading on Thursday, hitting $41.60. 10,973,882 shares of the company’s stock were exchanged, compared to its average volume of 15,670,538. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The business’s 50 day moving average is $43.25 and its two-hundred day moving average is $48.27. Bristol-Myers Squibb has a fifty-two week low of $39.63 and a fifty-two week high of $65.38. The stock has a market cap of $84.33 billion, a P/E ratio of -13.56, a PEG ratio of 14.28 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.05 earnings per share. As a group, equities analysts expect that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 5.77%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.