Bristol Myers Squibb Company (NYSE:BMY) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC lifted its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 43.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,240,877 shares of the biopharmaceutical company's stock after purchasing an additional 1,578,043 shares during the period. Jennison Associates LLC owned about 0.26% of Bristol Myers Squibb worth $319,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in Bristol Myers Squibb by 33.4% in the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock worth $1,116,000 after purchasing an additional 4,935 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new position in Bristol Myers Squibb during the fourth quarter valued at approximately $13,094,000. Proficio Capital Partners LLC bought a new stake in Bristol Myers Squibb in the 4th quarter worth approximately $240,000. Madison Investment Advisors LLC purchased a new stake in shares of Bristol Myers Squibb during the 4th quarter worth approximately $213,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of Bristol Myers Squibb by 42.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 166,479 shares of the biopharmaceutical company's stock valued at $9,450,000 after acquiring an additional 49,678 shares during the last quarter. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Down 1.4%

Shares of NYSE:BMY traded down $0.66 during trading hours on Friday, hitting $47.40. The company's stock had a trading volume of 10,713,205 shares, compared to its average volume of 12,765,104. The firm's fifty day moving average price is $47.45 and its 200 day moving average price is $53.00. Bristol Myers Squibb Company has a 52 week low of $41.61 and a 52 week high of $63.33. The company has a market capitalization of $96.46 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 2.47 and a beta of 0.36. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The company had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. During the same quarter in the previous year, the firm posted ($4.40) EPS. The firm's revenue was down 5.6% compared to the same quarter last year. As a group, research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.23%. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 92.88%.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of recent research reports. UBS Group decreased their price target on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group decreased their target price on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Cantor Fitzgerald reiterated a "neutral" rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. William Blair reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Finally, Argus upgraded Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of "Hold" and a consensus price target of $57.69.

Insider Buying and Selling

In related news, EVP Samit Hirawat bought 4,250 shares of the stock in a transaction dated Friday, April 25th. The shares were purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the purchase, the executive vice president directly owned 83,513 shares of the company's stock, valued at $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company's stock.

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.