Jacobs & Co. CA Grows Position in Bristol-Myers Squibb (NYSE:BMY)

Jacobs & Co. CA boosted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,314 shares of the biopharmaceutical company’s stock after acquiring an additional 907 shares during the quarter. Jacobs & Co. CA’s holdings in Bristol-Myers Squibb were worth $6,532,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at $1,873,696,000. Moneta Group Investment Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 114,228.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock valued at $1,544,751,000 after acquiring an additional 21,451,006 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Bristol-Myers Squibb by 48.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after buying an additional 2,540,360 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in Bristol-Myers Squibb in the 4th quarter worth about $86,965,000. Finally, Cowa LLC boosted its stake in Bristol-Myers Squibb by 9,777.8% in the 1st quarter. Cowa LLC now owns 1,657,894 shares of the biopharmaceutical company’s stock worth $1,211,000 after buying an additional 1,641,110 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Wells Fargo & Company decreased their price target on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 6th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Finally, 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. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $61.12.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $53.25 on Thursday. Bristol-Myers Squibb has a twelve month low of $47.58 and a twelve month high of $71.07. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $107.92 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.59 and a beta of 0.38. The business has a 50 day simple moving average of $50.73 and a 200-day simple moving average of $52.43.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. During the same period in the previous year, the business earned $1.82 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities research analysts expect that Bristol-Myers Squibb will post 6.61 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.51%. Bristol-Myers Squibb’s payout ratio is currently 62.18%.

Bristol-Myers Squibb declared that its Board of Directors has approved a share buyback program on Thursday, December 7th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the biopharmaceutical company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.