Westbourne Investments Inc. Invests $726,000 in Bristol-Myers Squibb (NYSE:BMY)

Westbourne Investments Inc. acquired a new position in Bristol-Myers Squibb (NYSE:BMY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 12,830 shares of the biopharmaceutical company's stock, valued at approximately $726,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Freestone Grove Partners LP bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $875,000. Widmann Financial Services Inc. boosted its holdings in shares of Bristol-Myers Squibb by 4.9% in the fourth quarter. Widmann Financial Services Inc. now owns 7,956 shares of the biopharmaceutical company's stock worth $450,000 after buying an additional 370 shares during the period. Parvin Asset Management LLC purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $419,000. Rehmann Capital Advisory Group lifted its position in shares of Bristol-Myers Squibb by 10.6% in the 4th quarter. Rehmann Capital Advisory Group now owns 30,503 shares of the biopharmaceutical company's stock valued at $1,726,000 after acquiring an additional 2,933 shares in the last quarter. Finally, Talon Private Wealth LLC acquired a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $312,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded down $0.52 during trading hours on Monday, reaching $50.05. 11,193,573 shares of the company were exchanged, compared to its average volume of 12,963,320. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The stock has a 50-day moving average of $55.68 and a 200 day moving average of $56.41. The firm has a market cap of $101.86 billion, a price-to-earnings ratio of -11.32, a PEG ratio of 2.07 and a beta of 0.41.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. The business had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. Bristol-Myers Squibb's revenue was down 5.6% compared to the same quarter last year. During the same period last year, the business posted ($4.40) EPS. As a group, research analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 4th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date was Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently 92.88%.

Analyst Ratings Changes

A number of analysts have recently issued reports on BMY shares. William Blair restated a "market perform" rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Jefferies Financial Group reduced their price objective on Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company lifted their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. UBS Group decreased their price target on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Argus raised shares of Bristol-Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb currently has an average rating of "Hold" and a consensus target price of $58.00.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,823 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.09% of the company's stock.

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.