Abacus FCF Advisors LLC Buys 81,017 Shares of Bristol-Myers Squibb (NYSE:BMY)

Abacus FCF Advisors LLC lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 66.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 203,358 shares of the biopharmaceutical company’s stock after buying an additional 81,017 shares during the quarter. Bristol-Myers Squibb comprises 1.5% of Abacus FCF Advisors LLC’s portfolio, making the stock its 13th largest position. Abacus FCF Advisors LLC’s holdings in Bristol-Myers Squibb were worth $11,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Bristol-Myers Squibb by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock worth $10,743,262,000 after purchasing an additional 1,373,209 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Bristol-Myers Squibb by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company’s stock valued at $2,505,967,000 after acquiring an additional 1,187,231 shares in the last quarter. Norges Bank purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $1,989,525,000. Bank of New York Mellon Corp lifted its position in Bristol-Myers Squibb by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 24,733,868 shares of the biopharmaceutical company’s stock valued at $1,398,948,000 after acquiring an additional 1,482,410 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Bristol-Myers Squibb by 1.5% in the 4th quarter. Invesco Ltd. now owns 16,437,390 shares of the biopharmaceutical company’s stock worth $929,699,000 after purchasing an additional 242,186 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $55.18 on Tuesday. The firm has a market capitalization of $112.27 billion, a PE ratio of -12.48, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The firm has a 50-day moving average price of $58.52 and a 200-day moving average price of $56.72. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month 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 released its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating 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, equities research analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be given a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 4.49%. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

Analyst Ratings Changes

BMY has been the subject of a number of recent analyst reports. Citigroup boosted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Bank of America restated a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price target for the company from $63.00 to $70.00 in a report on Monday, December 16th. Truist Financial increased their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company lifted 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 note on Friday, February 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $57.86.

Insiders Place Their Bets

In other news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction on Friday, February 14th. The stock was bought at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by company insiders.

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.