Xcel Wealth Management LLC Buys 7,029 Shares of Bristol-Myers Squibb (NYSE:BMY)

Xcel Wealth Management LLC grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 90.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,819 shares of the biopharmaceutical company’s stock after buying an additional 7,029 shares during the quarter. Xcel Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $838,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BMY. AMF Tjanstepension AB grew its stake in shares of Bristol-Myers Squibb by 6.9% during the third quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock valued at $31,618,000 after buying an additional 39,419 shares during the last quarter. Swedbank AB grew its stake in shares of Bristol-Myers Squibb by 0.9% during the third quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock valued at $162,440,000 after buying an additional 28,427 shares during the last quarter. Pettinga Financial Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 8.7% during the third quarter. Pettinga Financial Advisors LLC now owns 11,108 shares of the biopharmaceutical company’s stock valued at $575,000 after buying an additional 886 shares during the last quarter. Valmark Advisers Inc. purchased a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $218,000. Finally, First Trust Direct Indexing L.P. boosted its holdings in shares of Bristol-Myers Squibb by 54.8% during the third quarter. First Trust Direct Indexing L.P. now owns 33,428 shares of the biopharmaceutical company’s stock worth $1,730,000 after purchasing an additional 11,831 shares during the period. 76.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BMY has been the subject of a number of analyst reports. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price target for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Bank of America restated a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. BMO Capital Markets boosted their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Finally, Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Trading Up 1.5 %

NYSE BMY opened at $59.71 on Friday. The company has a fifty day moving average of $57.15 and a 200 day moving average of $54.70. The company has a market capitalization of $121.17 billion, a PE ratio of -13.51, a P/E/G ratio of 2.07 and a beta of 0.45. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.10. 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 released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share 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%. Research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.15%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the stock in a transaction on Friday, February 14th. The shares were bought at an average cost of $54.84 per share, with a total value of $99,973.32. Following the transaction, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The transaction 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 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.