Pacific Capital Wealth Advisors Inc. Invests $34,000 in Bristol-Myers Squibb (NYSE:BMY)

Pacific Capital Wealth Advisors Inc. bought a new position in Bristol-Myers Squibb (NYSE:BMY) in the fourth quarter, Holdings Channel reports. The institutional investor bought 666 shares of the biopharmaceutical company’s stock, valued at approximately $34,000.

A number of other hedge funds also recently bought and sold shares of the company. Northern Trust Corp lifted its position in Bristol-Myers Squibb by 5.8% in the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after buying an additional 1,394,158 shares during the last quarter. Invesco Ltd. lifted its position in Bristol-Myers Squibb by 8.6% in the 3rd quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after buying an additional 1,240,902 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Bristol-Myers Squibb by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,361,717 shares of the biopharmaceutical company’s stock worth $582,970,000 after buying an additional 134,815 shares during the last quarter. Pacer Advisors Inc. lifted its position in Bristol-Myers Squibb by 48.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after buying an additional 2,540,360 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Bristol-Myers Squibb by 3.2% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,594,092 shares of the biopharmaceutical company’s stock worth $287,033,000 after purchasing an additional 172,769 shares during the period. Institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Barclays decreased their price target on 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 lifted their price target on 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 reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Finally, Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.00.

Bristol-Myers Squibb Stock Up 0.3 %

Bristol-Myers Squibb stock traded up $0.14 during mid-day trading on Tuesday, hitting $44.04. The company had a trading volume of 10,924,172 shares, compared to its average volume of 15,784,603. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The stock’s 50 day moving average price is $50.11 and its two-hundred day moving average price is $50.48. Bristol-Myers Squibb has a 12 month low of $43.33 and a 12 month high of $69.10. The company has a market capitalization of $89.27 billion, a PE ratio of -14.21, a price-to-earnings-growth ratio of 14.82 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The business had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. During the same period in the previous year, the company posted $2.05 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -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.