Wesbanco Bank Inc. Grows Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Wesbanco Bank Inc. lifted its holdings in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 290,362 shares of the biopharmaceutical company's stock after buying an additional 21,842 shares during the period. Wesbanco Bank Inc.'s holdings in Bristol-Myers Squibb were worth $15,746,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Summit Trail Advisors LLC increased its stake in Bristol-Myers Squibb by 40.6% during the first quarter. Summit Trail Advisors LLC now owns 16,343 shares of the biopharmaceutical company's stock worth $886,000 after acquiring an additional 4,717 shares during the last quarter. Regatta Capital Group LLC boosted its holdings in shares of Bristol-Myers Squibb by 3.9% in the 1st quarter. Regatta Capital Group LLC now owns 7,245 shares of the biopharmaceutical company's stock worth $393,000 after purchasing an additional 274 shares during the period. Principle Wealth Partners LLC raised its holdings in Bristol-Myers Squibb by 15.5% during the 1st quarter. Principle Wealth Partners LLC now owns 9,208 shares of the biopharmaceutical company's stock valued at $499,000 after buying an additional 1,239 shares during the period. Strategic Blueprint LLC raised its holdings in Bristol-Myers Squibb by 78.0% during the 1st quarter. Strategic Blueprint LLC now owns 17,293 shares of the biopharmaceutical company's stock valued at $938,000 after buying an additional 7,578 shares during the period. Finally, Accurate Wealth Management LLC boosted its stake in Bristol-Myers Squibb by 4.0% during the first quarter. Accurate Wealth Management LLC now owns 5,612 shares of the biopharmaceutical company's stock worth $304,000 after buying an additional 216 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on BMY. William Blair reissued a "market perform" rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Barclays cut their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Friday, April 26th. Bank of America lowered Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Finally, BMO Capital Markets cut their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a "market perform" rating on the stock in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Down 1.2 %

Shares of NYSE:BMY traded down $0.51 on Thursday, reaching $43.70. The company had a trading volume of 15,894,134 shares, compared to its average volume of 15,962,154. The firm has a market capitalization of $88.58 billion, a PE ratio of -14.10, a PEG ratio of 14.70 and a beta of 0.45. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. Bristol-Myers Squibb has a 52-week low of $43.33 and a 52-week high of $69.10. The firm's 50 day simple moving average is $50.52 and its 200-day simple moving average is $50.84.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 earnings per share. As a group, analysts expect that Bristol-Myers Squibb will post 0.6 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were paid a $0.60 dividend. The ex-dividend date was Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.49%. Bristol-Myers Squibb's dividend payout ratio (DPR) is -77.42%.

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.

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