Naples Money Management LLC Invests $2.03 Million in Bristol-Myers Squibb (NYSE:BMY)

Naples Money Management LLC acquired a new stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 39,593 shares of the biopharmaceutical company's stock, valued at approximately $2,032,000. Bristol-Myers Squibb makes up 1.9% of Naples Money Management LLC's portfolio, making the stock its 24th largest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riversedge Advisors LLC boosted its position in Bristol-Myers Squibb by 3.2% during the third quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company's stock worth $330,000 after purchasing an additional 178 shares during the period. Vicus Capital lifted its stake in shares of Bristol-Myers Squibb by 3.9% during the 3rd quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company's stock worth $280,000 after buying an additional 179 shares during the last quarter. Front Row Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 17.5% during the 4th quarter. Front Row Advisors LLC now owns 1,222 shares of the biopharmaceutical company's stock worth $88,000 after buying an additional 182 shares during the period. Cassia Capital Partners LLC lifted its position in Bristol-Myers Squibb by 2.3% during the third quarter. Cassia Capital Partners LLC now owns 7,931 shares of the biopharmaceutical company's stock worth $460,000 after acquiring an additional 182 shares during the last quarter. Finally, Lindbrook Capital LLC grew its position in shares of Bristol-Myers Squibb by 2.3% in the third quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company's stock valued at $468,000 after purchasing an additional 182 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com lowered Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Monday. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. Bank of America downgraded shares of Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and cut their price objective for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. Wells Fargo & Company raised their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, Societe Generale cut Bristol-Myers Squibb from a "buy" rating to a "hold" rating in a research note on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $61.18.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock traded up $0.63 during midday trading on Friday, hitting $48.93. 10,272,342 shares of the company traded hands, compared to its average volume of 15,709,757. The stock has a market cap of $99.17 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.44 and a beta of 0.39. 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 firm's fifty day moving average price is $51.25 and its 200-day moving average price is $51.57. Bristol-Myers Squibb has a 12 month low of $47.58 and a 12 month high of $70.93.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.15. The company had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.82 earnings per share. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.90%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb's dividend payout ratio is currently 62.18%.

Bristol-Myers Squibb Company 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.

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