Good Life Advisors LLC Decreases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Good Life Advisors LLC lessened its stake in Bristol-Myers Squibb (NYSE:BMY) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,792 shares of the biopharmaceutical company’s stock after selling 647 shares during the period. Good Life Advisors LLC’s holdings in Bristol-Myers Squibb were worth $862,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp increased its position in Bristol-Myers Squibb by 0.9% during the second quarter. State Street Corp now owns 92,570,288 shares of the biopharmaceutical company’s stock worth $5,919,870,000 after buying an additional 858,922 shares during the last quarter. Norges Bank bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $1,873,696,000. Northern Trust Corp grew its holdings in shares of Bristol-Myers Squibb by 5.8% during the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock valued at $1,467,989,000 after buying an additional 1,394,158 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of Bristol-Myers Squibb by 114,228.7% during the 4th 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 period. Finally, Invesco Ltd. boosted its stake in shares of Bristol-Myers Squibb by 8.6% during the 3rd quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after purchasing an additional 1,240,902 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Up 1.8 %

Shares of NYSE BMY traded up $0.98 during trading on Thursday, reaching $54.23. The company had a trading volume of 13,446,705 shares, compared to its average volume of 16,859,297. The stock has a market cap of $109.91 billion, a PE ratio of 14.08, a P/E/G ratio of 1.59 and a beta of 0.38. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. The business’s 50-day moving average is $50.79 and its 200 day moving average is $52.44. Bristol-Myers Squibb has a 12-month low of $47.58 and a 12-month high of $71.07.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.55 by $0.15. The firm had revenue of $11.48 billion during the quarter, compared to analyst estimates of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.82 EPS. As a group, equities analysts forecast that Bristol-Myers Squibb will post 6.61 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently 62.18%.

Bristol-Myers Squibb declared that its Board of Directors has authorized a stock repurchase program on Thursday, December 7th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BMY. Wells Fargo & Company cut 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. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Bank of America lowered 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. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $61.12.

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.