Bristol-Myers Squibb (NYSE:BMY) Shares Acquired by Modern Wealth Management LLC

Modern Wealth Management LLC increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 36.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,398 shares of the biopharmaceutical company’s stock after purchasing an additional 4,647 shares during the quarter. Modern Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $966,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $377,000. Towercrest Capital Management purchased a new stake in Bristol-Myers Squibb in the fourth quarter valued at $212,000. Sound Shore Management Inc. CT acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $77,696,000. Woodmont Investment Counsel LLC grew its stake in Bristol-Myers Squibb by 3.1% during the 4th quarter. Woodmont Investment Counsel LLC now owns 13,006 shares of the biopharmaceutical company’s stock worth $736,000 after buying an additional 391 shares during the last quarter. Finally, Crowley Wealth Management Inc. purchased a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $43,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

BMY stock opened at $59.18 on Thursday. The firm has a 50-day moving average of $58.42 and a two-hundred day moving average of $56.15. The firm has a market capitalization of $120.08 billion, a PE ratio of -13.39, a P/E/G ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a one year low of $39.35 and a one year 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.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS 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%. On average, analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is -56.11%.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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