Frank Rimerman Advisors LLC Purchases 1,667 Shares of Bristol-Myers Squibb (NYSE:BMY)

Frank Rimerman Advisors LLC grew its position in Bristol-Myers Squibb (NYSE:BMY) by 4.2% in the fourth quarter, Holdings Channel reports. The fund owned 41,378 shares of the biopharmaceutical company’s stock after acquiring an additional 1,667 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Bristol-Myers Squibb were worth $2,340,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Fairway Wealth LLC bought a new position in Bristol-Myers Squibb during the 4th quarter worth $28,000. Darwin Wealth Management LLC bought a new position in Bristol-Myers Squibb during the 3rd quarter worth $29,000. Dunhill Financial LLC raised its position in Bristol-Myers Squibb by 39.8% during the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 189 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new position in Bristol-Myers Squibb during the 4th quarter worth $34,000. Finally, Westend Capital Management LLC bought a new position in Bristol-Myers Squibb during the 4th quarter worth $38,000. 76.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Samit Hirawat bought 1,823 shares of the company’s stock in a transaction on Friday, February 14th. The shares were purchased at an average price of $54.84 per share, with a total value of $99,973.32. Following the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This 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 the SEC website. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

BMY stock opened at $59.01 on Friday. The company has a market capitalization of $119.75 billion, a P/E ratio of -13.35, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The business has a 50-day simple moving average of $57.81 and a two-hundred day simple moving average of $55.51.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.20%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -56.11%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Bank of America reaffirmed a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Citigroup increased their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Wolfe Research initiated coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They set a “peer perform” rating for the company. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price target for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Finally, Truist Financial increased their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $57.86.

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.