Drive Wealth Management LLC Grows Stake in Bristol-Myers Squibb (NYSE:BMY)

Drive Wealth Management LLC grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.0% in the 1st quarter, Holdings Channel reports. The fund owned 8,575 shares of the biopharmaceutical company’s stock after acquiring an additional 332 shares during the period. Drive Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $465,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in Bristol-Myers Squibb in the third quarter valued at approximately $25,000. Milestone Investment Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $27,000. Northwest Financial Advisors bought a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $27,000. Blue Bell Private Wealth Management LLC raised its holdings in Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 200 shares in the last quarter. Finally, Accordant Advisory Group Inc bought a new stake in Bristol-Myers Squibb during the first quarter worth approximately $31,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock traded up $0.15 during trading hours on Friday, hitting $44.85. 21,281,927 shares of the stock were exchanged, compared to its average volume of 12,141,314. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The stock has a market capitalization of $90.90 billion, a P/E ratio of -14.47, a P/E/G ratio of 16.25 and a beta of 0.39. Bristol-Myers Squibb has a 12 month low of $44.34 and a 12 month high of $69.10. The business’s 50-day moving average is $51.03 and its two-hundred day moving average is $51.18.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping the consensus estimate of ($4.53) by $0.13. The firm had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 50.04%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 earnings per share. Equities research analysts expect that Bristol-Myers Squibb will post 0.55 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BMY shares. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. Finally, Wells Fargo & Company lifted their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $60.00.

About Bristol-Myers Squibb

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.