Pinnacle Wealth Management Advisory Group LLC Raises Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Pinnacle Wealth Management Advisory Group LLC raised its holdings in Bristol-Myers Squibb (NYSE:BMY) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,869 shares of the biopharmaceutical company’s stock after purchasing an additional 971 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Bristol-Myers Squibb were worth $1,067,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AMF Tjanstepension AB grew its stake in shares of Bristol-Myers Squibb by 6.9% during the 3rd quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock worth $31,618,000 after purchasing an additional 39,419 shares during the period. Swedbank AB grew its position in Bristol-Myers Squibb by 0.9% during the third quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock valued at $162,440,000 after buying an additional 28,427 shares during the period. KMG Fiduciary Partners LLC increased its holdings in Bristol-Myers Squibb by 2.0% in the third quarter. KMG Fiduciary Partners LLC now owns 31,066 shares of the biopharmaceutical company’s stock valued at $1,607,000 after buying an additional 618 shares in the last quarter. Moss Adams Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb in the third quarter worth about $210,000. Finally, Blue Trust Inc. boosted its stake in shares of Bristol-Myers Squibb by 50.0% during the 3rd quarter. Blue Trust Inc. now owns 25,501 shares of the biopharmaceutical company’s stock worth $1,319,000 after acquiring an additional 8,498 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $53.85 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The stock has a market cap of $109.22 billion, a P/E ratio of -12.18, a PEG ratio of 2.13 and a beta of 0.45. The company has a 50-day moving average price of $57.21 and a 200 day moving average price of $54.10. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping 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 13.81%. Sell-side analysts anticipate that Bristol-Myers Squibb will post 6.75 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.61%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of analyst reports. Citigroup upped their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Morgan Stanley boosted their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. BMO Capital Markets increased their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Finally, Cantor Fitzgerald upped their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $57.86.

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.