Wedbush Securities Inc. Increases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Wedbush Securities Inc. grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,386 shares of the biopharmaceutical company’s stock after purchasing an additional 1,618 shares during the period. Wedbush Securities Inc.’s holdings in Bristol-Myers Squibb were worth $3,246,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BMY. Norges Bank purchased a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $1,989,525,000. Wellington Management Group LLP grew its stake in shares of Bristol-Myers Squibb by 3,880.0% in the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock worth $338,088,000 after acquiring an additional 5,827,317 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $257,618,000. Schroder Investment Management Group raised its stake in shares of Bristol-Myers Squibb by 49.7% in the fourth quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock valued at $639,837,000 after acquiring an additional 3,787,075 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in Bristol-Myers Squibb by 194.7% in the third quarter. National Bank of Canada FI now owns 2,506,741 shares of the biopharmaceutical company’s stock valued at $129,698,000 after purchasing an additional 1,656,141 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The stock was bought 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 $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock opened at $55.32 on Friday. The firm’s fifty day simple moving average is $58.62 and its 200-day simple moving average is $56.58. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The stock has a market capitalization of $112.56 billion, a price-to-earnings ratio of -12.52, a PEG ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates 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, equities analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 4.48%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -56.11%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Bank of America reaffirmed a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Truist Financial raised their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald boosted their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Finally, Citigroup increased their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.