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

Drive Wealth Management LLC boosted its position in Bristol-Myers Squibb (NYSE:BMY) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,878 shares of the biopharmaceutical company’s stock after purchasing an additional 182 shares during the quarter. Drive Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $502,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Meridian Management Co. increased its holdings in shares of Bristol-Myers Squibb by 0.6% in the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock valued at $1,463,000 after purchasing an additional 182 shares during the last quarter. Hollencrest Capital Management increased its stake in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the period. Dunhill Financial LLC lifted its position in Bristol-Myers Squibb by 39.8% during the third 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. Mayflower Financial Advisors LLC raised its position in Bristol-Myers Squibb by 2.3% during the third quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company’s stock valued at $438,000 after purchasing an additional 192 shares in the last quarter. Finally, Lakewood Asset Management LLC boosted its stake in Bristol-Myers Squibb by 0.7% in the fourth quarter. Lakewood Asset Management LLC now owns 26,867 shares of the biopharmaceutical company’s stock valued at $1,520,000 after buying an additional 195 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of recent research reports. Bank of America reaffirmed a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Barclays boosted their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Truist Financial lifted their price target 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 raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price target for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $56.27.

Insider Transactions at Bristol-Myers Squibb

In related news, 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 value of $38,934.00. Following the completion of the transaction, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $59.68 on Monday. The company has a 50 day moving average of $57.47 and a two-hundred day moving average of $52.62. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. The company has a market cap of $121.05 billion, a price-to-earnings ratio of -16.63, a price-to-earnings-growth ratio of 2.02 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 released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the prior year, the firm earned $2.00 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, analysts predict that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.62 per share. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.16%. Bristol-Myers Squibb’s payout ratio is presently -69.08%.

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.