Udine Wealth Management Inc. Takes Position in Bristol-Myers Squibb (NYSE:BMY)

Udine Wealth Management Inc. acquired a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,571 shares of the biopharmaceutical company’s stock, valued at approximately $1,821,000. Bristol-Myers Squibb accounts for about 1.3% of Udine Wealth Management Inc.’s investment portfolio, making the stock its 21st largest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Westside Investment Management Inc. increased its holdings in shares of Bristol-Myers Squibb by 2.9% in the 4th quarter. Westside Investment Management Inc. now owns 7,156 shares of the biopharmaceutical company’s stock valued at $367,000 after acquiring an additional 204 shares during the period. Traynor Capital Management Inc. increased its stake in Bristol-Myers Squibb by 2.8% in the 1st quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock valued at $416,000 after buying an additional 207 shares during the period. Fulton Breakefield Broenniman LLC increased its stake in Bristol-Myers Squibb by 4.6% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 4,744 shares of the biopharmaceutical company’s stock valued at $243,000 after buying an additional 209 shares during the period. Chapin Davis Inc. increased its stake in Bristol-Myers Squibb by 1.2% in the 4th quarter. Chapin Davis Inc. now owns 18,385 shares of the biopharmaceutical company’s stock valued at $943,000 after buying an additional 214 shares during the period. Finally, Tilson Financial Group Inc. increased its stake in Bristol-Myers Squibb by 3.7% in the 4th quarter. Tilson Financial Group Inc. now owns 6,258 shares of the biopharmaceutical company’s stock valued at $321,000 after buying an additional 221 shares during the period. Institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BMY shares. Barclays dropped their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Wells Fargo & Company upped their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, BMO Capital Markets lowered their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Trading Down 0.4 %

BMY traded down $0.16 on Monday, reaching $41.37. 7,847,938 shares of the company’s stock were exchanged, compared to its average volume of 15,698,623. The company’s 50 day moving average is $42.97 and its 200-day moving average is $48.11. The company has a market cap of $83.86 billion, a price-to-earnings ratio of -13.47, a PEG ratio of 14.21 and a beta of 0.44. Bristol-Myers Squibb has a twelve month low of $39.63 and a twelve month high of $65.38. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 EPS. Equities analysts predict that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.80%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

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.