Bristol-Myers Squibb (NYSE:BMY) Stake Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 21.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,531,112 shares of the biopharmaceutical company’s stock after acquiring an additional 618,047 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.17% of Bristol-Myers Squibb worth $199,720,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Fairway Wealth LLC acquired a new stake in Bristol-Myers Squibb during the fourth quarter valued at $28,000. Dunhill Financial LLC lifted its holdings in shares of Bristol-Myers Squibb by 39.8% during the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 189 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $34,000. Westend Capital Management LLC acquired a new position in Bristol-Myers Squibb in the fourth quarter worth approximately $38,000. Finally, Tacita Capital Inc acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $55.32 on Monday. The company’s fifty day moving average is $58.62 and its two-hundred day moving average is $56.68. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The firm has a market capitalization of $112.56 billion, a price-to-earnings ratio of -12.52, a P/E/G ratio of 2.07 and a beta of 0.41.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Equities research analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be paid a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.48%. Bristol-Myers Squibb’s payout ratio is -56.11%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BMY shares. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price target for the company from $63.00 to $70.00 in a report on Monday, December 16th. Wells Fargo & Company boosted their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Cantor Fitzgerald increased their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Bank of America reissued a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Finally, Citigroup upped their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $57.86.

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.