Dakota Wealth Management Increases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Dakota Wealth Management raised its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 377.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 260,293 shares of the biopharmaceutical company’s stock after purchasing an additional 205,772 shares during the quarter. Dakota Wealth Management’s holdings in Bristol-Myers Squibb were worth $14,722,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BMY. Inspire Trust Co. N.A. lifted its position in shares of Bristol-Myers Squibb by 39.0% in the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after purchasing an additional 29,044 shares during the period. Contravisory Investment Management Inc. purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth about $488,000. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 206 shares during the period. Sheaff Brock Investment Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 34.3% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock worth $2,305,000 after purchasing an additional 11,387 shares during the period. Finally, iA Global Asset Management Inc. lifted its position in shares of Bristol-Myers Squibb by 81.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock worth $3,972,000 after purchasing an additional 34,418 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction on Friday, November 1st. The shares were acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $57.01 on Wednesday. The company has a 50 day moving average price of $57.46 and a 200-day moving average price of $52.20. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The firm has a market capitalization of $115.63 billion, a PE ratio of -15.88, a P/E/G ratio of 1.98 and a beta of 0.45. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.00 earnings per share. As a group, equities research analysts expect that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.35%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is -69.08%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BMY. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Bank of America reissued a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Finally, Truist Financial lifted their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $56.27.

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.