Benchmark Financial Wealth Advisors LLC Has $782,000 Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Benchmark Financial Wealth Advisors LLC reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 4.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,244 shares of the biopharmaceutical company’s stock after selling 745 shares during the period. Benchmark Financial Wealth Advisors LLC’s holdings in Bristol-Myers Squibb were worth $782,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at approximately $1,873,696,000. Moneta Group Investment Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 114,228.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock valued at $1,544,751,000 after purchasing an additional 21,451,006 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Bristol-Myers Squibb by 48.0% in the fourth quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after purchasing an additional 2,540,360 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in Bristol-Myers Squibb in the fourth quarter valued at $86,965,000. Finally, Cowa LLC increased its stake in Bristol-Myers Squibb by 9,777.8% in the 1st quarter. Cowa LLC now owns 1,657,894 shares of the biopharmaceutical company’s stock valued at $1,211,000 after buying an additional 1,641,110 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE BMY traded down $0.24 on Tuesday, reaching $52.75. The stock had a trading volume of 10,233,247 shares, compared to its average volume of 16,652,035. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The company has a market cap of $106.91 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 1.64 and a beta of 0.39. The firm has a fifty day moving average of $51.03 and a two-hundred day moving average of $52.25. Bristol-Myers Squibb has a 1-year low of $47.58 and a 1-year high of $71.07.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last released its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same period in the prior year, the company posted $1.82 earnings per share. Bristol-Myers Squibb’s revenue was up .6% compared to the same quarter last year. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 6.61 EPS for the current year.

Bristol-Myers Squibb announced that its Board of Directors has initiated a share buyback program on Thursday, December 7th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.55%. Bristol-Myers Squibb’s payout ratio is 62.18%.

Wall Street Analyst Weigh In

BMY has been the subject of a number of recent research reports. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday. Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Finally, Wells Fargo & Company decreased their price objective on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.12.

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About Bristol-Myers Squibb

(Free Report)

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.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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