28,610 Shares in Bristol-Myers Squibb (NYSE:BMY) Bought by Cornerstone Select Advisors LLC

Cornerstone Select Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 28,610 shares of the biopharmaceutical company's stock, valued at approximately $1,618,000. Bristol-Myers Squibb makes up 1.6% of Cornerstone Select Advisors LLC's investment portfolio, making the stock its 20th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Bristol-Myers Squibb by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company's stock worth $10,743,262,000 after purchasing an additional 1,373,209 shares during the last quarter. Capital International Investors increased its position in Bristol-Myers Squibb by 7.5% in the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock worth $2,593,940,000 after buying an additional 3,218,865 shares during the period. Geode Capital Management LLC increased its position in Bristol-Myers Squibb by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company's stock worth $2,505,967,000 after buying an additional 1,187,231 shares during the period. Norges Bank bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $1,989,525,000. Finally, Ameriprise Financial Inc. increased its position in shares of Bristol-Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after purchasing an additional 12,011,983 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the firm's stock in a transaction dated Friday, April 25th. The stock was purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president now owns 83,513 shares in the company, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded up $1.20 during trading hours on Monday, hitting $47.65. The stock had a trading volume of 13,120,098 shares, compared to its average volume of 13,106,880. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The stock's 50-day moving average price is $54.54 and its two-hundred day moving average price is $56.23. The stock has a market capitalization of $96.97 billion, a price-to-earnings ratio of -10.78, a PEG ratio of 2.07 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The company had revenue of $11.20 billion for the quarter, compared to analysts' expectations of $10.77 billion. During the same period in the previous year, the firm posted ($4.40) earnings per share. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. Equities analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 4th were issued a $0.62 dividend. The ex-dividend date was Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.20%. Bristol-Myers Squibb's payout ratio is 92.88%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. The Goldman Sachs Group restated a "neutral" rating and set a $55.00 price objective (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Jefferies Financial Group cut their target price on Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Argus upgraded Bristol-Myers Squibb to a "hold" rating in a report on Friday, April 25th. Finally, Citigroup raised their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $58.00.

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.