Independence Bank of Kentucky Increases Stake in Bristol-Myers Squibb (NYSE:BMY)

Independence Bank of Kentucky lifted its stake in Bristol-Myers Squibb (NYSE:BMY) by 3.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,556 shares of the biopharmaceutical company’s stock after buying an additional 308 shares during the quarter. Independence Bank of Kentucky’s holdings in Bristol-Myers Squibb were worth $572,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Westside Investment Management Inc. grew its position in shares of Bristol-Myers Squibb by 2.9% during the fourth quarter. Westside Investment Management Inc. now owns 7,156 shares of the biopharmaceutical company’s stock valued at $367,000 after purchasing an additional 204 shares in the last quarter. Traynor Capital Management Inc. grew its holdings in Bristol-Myers Squibb by 2.8% during 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 in the last quarter. 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 worth $243,000 after acquiring an additional 209 shares during the last quarter. Chapin Davis Inc. raised its holdings in shares of Bristol-Myers Squibb by 1.2% during the 4th quarter. Chapin Davis Inc. now owns 18,385 shares of the biopharmaceutical company’s stock worth $943,000 after acquiring an additional 214 shares in the last quarter. Finally, Tilson Financial Group Inc. boosted its position in shares of Bristol-Myers Squibb by 3.7% during the 4th quarter. Tilson Financial Group Inc. now owns 6,258 shares of the biopharmaceutical company’s stock valued at $321,000 after acquiring an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

BMY has been the topic of a number of recent research reports. Barclays decreased their price target 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 target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. BMO Capital Markets dropped their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Finally, Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $41.53 on Friday. The company’s 50-day simple moving average is $42.97 and its two-hundred day simple moving average is $48.14. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. Bristol-Myers Squibb has a one year low of $39.63 and a one year high of $65.38. The company has a market capitalization of $84.19 billion, a P/E ratio of -13.40, a P/E/G ratio of 14.20 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (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 company had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter in the prior year, the firm earned $2.05 earnings per share. Bristol-Myers Squibb’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.