Montag A & Associates Inc. Boosts Stake in Bristol-Myers Squibb (NYSE:BMY)

Montag A & Associates Inc. raised its position in Bristol-Myers Squibb (NYSE:BMY) by 319.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 89,258 shares of the biopharmaceutical company’s stock after buying an additional 67,966 shares during the quarter. Montag A & Associates Inc.’s holdings in Bristol-Myers Squibb were worth $5,048,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the third quarter valued at approximately $25,000. Hollencrest Capital Management raised its stake in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 187 shares during the period. Kennebec Savings Bank acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at $28,000. Darwin Wealth Management LLC purchased a new stake in Bristol-Myers Squibb during the 3rd quarter worth $29,000. Finally, Valued Wealth Advisors LLC raised its position in Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 549 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BMY shares. BMO Capital Markets upped their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price target for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Bank of America reiterated a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Wells Fargo & Company upped their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Finally, 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. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $53.85 on Friday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10. 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 firm has a market cap of $109.22 billion, a price-to-earnings ratio of -12.18, a PEG ratio of 2.13 and a beta of 0.45. The stock has a 50 day moving average of $57.21 and a 200-day moving average of $54.07.

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, 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 13.81%. As a group, analysts forecast that Bristol-Myers Squibb will post 6.75 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

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

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.