Platform Technology Partners Boosts Stake in Bristol-Myers Squibb (NYSE:BMY)

Platform Technology Partners lifted its stake in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,429 shares of the biopharmaceutical company’s stock after buying an additional 304 shares during the period. Bristol-Myers Squibb makes up 0.9% of Platform Technology Partners’ portfolio, making the stock its 26th biggest position. Platform Technology Partners’ holdings in Bristol-Myers Squibb were worth $1,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Foundations Investment Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 153.8% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,646 shares of the biopharmaceutical company’s stock worth $2,637,000 after buying an additional 22,209 shares during the period. EWG Elevate Inc. purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth about $57,000. Phocas Financial Corp. purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth about $138,000. RB Capital Management LLC boosted its position in shares of Bristol-Myers Squibb by 3.2% in the fourth quarter. RB Capital Management LLC now owns 7,258 shares of the biopharmaceutical company’s stock worth $522,000 after buying an additional 226 shares during the period. Finally, RNC Capital Management LLC boosted its position in shares of Bristol-Myers Squibb by 1.2% in the fourth quarter. RNC Capital Management LLC now owns 968,547 shares of the biopharmaceutical company’s stock worth $69,687,000 after buying an additional 11,634 shares during the period. Hedge funds and other institutional investors own 75.51% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Ann Powell sold 11,183 shares of the firm’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $74.69, for a total value of $835,258.27. Following the sale, the executive vice president now directly owns 23,043 shares in the company, valued at approximately $1,721,081.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Ann Powell sold 11,183 shares of the firm’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $74.69, for a total value of $835,258.27. Following the sale, the executive vice president now directly owns 23,043 shares in the company, valued at approximately $1,721,081.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Giovanni Caforio sold 240,000 shares of the firm’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $74.65, for a total value of $17,916,000.00. Following the completion of the sale, the chief executive officer now owns 236,104 shares in the company, valued at $17,625,163.60. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BMY. Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $70.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 3rd. StockNews.com began coverage on Bristol-Myers Squibb in a research note on Thursday. They issued a “strong-buy” rating on the stock. Jefferies Financial Group began coverage on Bristol-Myers Squibb in a research note on Monday, March 6th. They issued a “hold” rating and a $62.00 price target on the stock. Morgan Stanley boosted their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “underweight” rating in a research note on Friday, February 3rd. Finally, Atlantic Securities boosted their price target on Bristol-Myers Squibb from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.69.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock traded down $0.57 on Friday, reaching $66.53. 21,616,937 shares of the company were exchanged, compared to its average volume of 8,457,718. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.14 and a current ratio of 1.25. The company’s 50-day moving average is $70.96 and its two-hundred day moving average is $72.88. The firm has a market cap of $139.63 billion, a price-to-earnings ratio of 22.55, a P/E/G ratio of 1.44 and a beta of 0.46. Bristol-Myers Squibb has a 1-year low of $65.28 and a 1-year high of $81.43.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.11. The business had revenue of $11.41 billion for the quarter, compared to analysts’ expectations of $11.20 billion. Bristol-Myers Squibb had a return on equity of 51.60% and a net margin of 13.71%. The business’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.83 EPS. As a group, research analysts expect that Bristol-Myers Squibb will post 8.07 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Thursday, April 6th. Bristol-Myers Squibb’s dividend payout ratio is currently 77.29%.

About Bristol-Myers Squibb

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Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.