Gilliland Jeter Wealth Management LLC Takes Position in Bristol-Myers Squibb (NYSE:BMY)

Gilliland Jeter Wealth Management LLC acquired a new position in Bristol-Myers Squibb (NYSE:BMY) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,337 shares of the biopharmaceutical company’s stock, valued at approximately $274,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BMY. Pacer Advisors Inc. grew its holdings in Bristol-Myers Squibb by 48.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after buying an additional 2,540,360 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in Bristol-Myers Squibb in the fourth quarter worth approximately $86,965,000. Mizuho Markets Americas LLC acquired a new stake in Bristol-Myers Squibb in the third quarter worth approximately $82,405,000. Northern Trust Corp lifted its position in Bristol-Myers Squibb by 5.8% in the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after purchasing an additional 1,394,158 shares during the period. Finally, Invesco Ltd. lifted its position in Bristol-Myers Squibb by 8.6% in the third quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after purchasing an additional 1,240,902 shares during the period. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Stock Up 0.3 %

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

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, topping the consensus estimate 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 business had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same period last year, the company earned $2.05 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts predict that Bristol-Myers Squibb will post 0.55 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.35%. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BMY shares. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. Redburn Atlantic downgraded 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 research report on Tuesday, February 6th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Wells Fargo & Company increased their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Finally, Barclays cut their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently 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.