Retirement Planning Co of New England Inc. Increases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Retirement Planning Co of New England Inc. grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,540 shares of the biopharmaceutical company’s stock after buying an additional 324 shares during the period. Retirement Planning Co of New England Inc.’s holdings in Bristol-Myers Squibb were worth $653,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Fairway Wealth LLC purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $28,000. Darwin Wealth Management LLC purchased a new stake in Bristol-Myers Squibb during the 3rd quarter worth $29,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Bristol-Myers Squibb during the 4th quarter worth $34,000. Dunhill Financial LLC boosted 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 period. Finally, Westend Capital Management LLC purchased a new stake in Bristol-Myers Squibb during the 4th quarter worth $38,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Samit Hirawat bought 1,823 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now owns 63,932 shares in the company, valued at approximately $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 SEC, which is accessible through this link. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Price Performance

BMY opened at $60.07 on Tuesday. The firm has a market cap of $121.89 billion, a price-to-earnings ratio of -13.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The company’s 50-day moving average price is $57.87 and its 200 day moving average price is $55.69. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

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

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of research reports. Cantor Fitzgerald upped their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Truist Financial upped their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price target for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Wells Fargo & Company upped their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Finally, Citigroup upped their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $57.86.

About Bristol-Myers Squibb

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.