SRS Capital Advisors Inc. Purchases 2,733 Shares of Bristol-Myers Squibb (NYSE:BMY)

SRS Capital Advisors Inc. grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 64.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,980 shares of the biopharmaceutical company’s stock after acquiring an additional 2,733 shares during the period. SRS Capital Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $395,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp grew its stake in shares of Bristol-Myers Squibb by 1.6% during the third quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock worth $4,806,469,000 after buying an additional 1,451,214 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Bristol-Myers Squibb by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock worth $3,157,713,000 after buying an additional 1,968,729 shares during the last quarter. FMR LLC grew its stake in shares of Bristol-Myers Squibb by 10.5% during the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after buying an additional 4,275,787 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Bristol-Myers Squibb by 2.5% during the third quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company’s stock worth $2,228,425,000 after buying an additional 1,036,495 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Bristol-Myers Squibb by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 24,733,868 shares of the biopharmaceutical company’s stock worth $1,398,948,000 after buying an additional 1,482,410 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Insider Activity

In related news, EVP Samit Hirawat acquired 1,823 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the acquisition, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

BMY has been the topic of a number of research reports. Bank of America reaffirmed a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Wells Fargo & Company boosted their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Price Performance

BMY stock opened at $59.85 on Tuesday. The firm has a market cap of $121.45 billion, a price-to-earnings ratio of -13.54, a PEG ratio of 2.07 and a beta of 0.45. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.10. The company’s fifty day simple moving average is $57.20 and its 200 day simple moving average is $54.86.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. On average, analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.14%. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

About Bristol-Myers Squibb

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.