Advisory Services Network LLC Has $6.48 Million Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Advisory Services Network LLC increased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 47.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 119,423 shares of the biopharmaceutical company’s stock after buying an additional 38,163 shares during the quarter. Advisory Services Network LLC’s holdings in Bristol-Myers Squibb were worth $6,476,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BMY. McClarren Financial Advisors Inc. increased 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 purchasing an additional 1,582 shares in the last quarter. Institute for Wealth Management LLC. grew its holdings in shares of Bristol-Myers Squibb by 1.0% in the fourth quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock valued at $1,542,000 after acquiring an additional 296 shares in the last quarter. Great Diamond Partners LLC grew its holdings in shares of Bristol-Myers Squibb by 9.2% in the fourth quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock valued at $224,000 after acquiring an additional 367 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of Bristol-Myers Squibb in the first quarter valued at approximately $5,161,000. Finally, Principal Securities Inc. bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $1,139,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Down 0.2 %

Shares of NYSE:BMY traded down $0.08 on Friday, reaching $40.67. 4,163,760 shares of the company traded hands, compared to its average volume of 15,597,344. The business’s 50-day simple moving average is $41.99 and its 200 day simple moving average is $47.47. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $65.38. The stock has a market capitalization of $82.44 billion, a P/E ratio of -13.15, a price-to-earnings-growth ratio of 14.07 and a beta of 0.44. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $2.05 earnings per share. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid 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 5.90%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BMY. Wells Fargo & Company upped 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. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. BMO Capital Markets reduced their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Finally, Barclays reduced their price objective on Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $59.50.

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.