bLong Financial LLC Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

bLong Financial LLC purchased a new stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 13,463 shares of the biopharmaceutical company's stock, valued at approximately $761,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BMY. FMR LLC grew its holdings in shares of Bristol-Myers Squibb by 10.5% in the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company's stock valued at $2,325,227,000 after buying an additional 4,275,787 shares during the period. Jennison Associates LLC boosted its stake in Bristol-Myers Squibb by 420.1% in the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company's stock worth $219,443,000 after purchasing an additional 3,425,789 shares during the period. Janus Henderson Group PLC boosted its stake in Bristol-Myers Squibb by 695.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company's stock worth $183,971,000 after purchasing an additional 3,107,672 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Bristol-Myers Squibb by 18.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company's stock worth $986,931,000 after purchasing an additional 3,002,418 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Bristol-Myers Squibb by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company's stock worth $3,157,713,000 after purchasing an additional 1,968,729 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of research analyst reports. Wells Fargo & Company upped their target price 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. Morgan Stanley upped their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an "underweight" rating in a research note on Tuesday, November 12th. Bank of America reaffirmed a "neutral" rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a "hold" rating to a "buy" rating and boosted their price target for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Finally, Leerink Partnrs raised shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $57.86.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded down $0.15 on Wednesday, reaching $54.28. The stock had a trading volume of 3,729,925 shares, compared to its average volume of 10,714,064. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The firm's 50-day moving average is $57.04 and its two-hundred day moving average is $54.23. The firm has a market capitalization of $110.16 billion, a price-to-earnings ratio of -12.28, a P/E/G ratio of 2.00 and a beta of 0.45. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly 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 13.93%. On average, research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were issued a $0.62 dividend. This is a boost from Bristol-Myers Squibb's previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.57%. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb's dividend payout ratio is currently -56.11%.

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.