Old North State Wealth Management LLC Has $526,000 Stake in Bristol-Myers Squibb (NYSE:BMY)

Old North State Wealth Management LLC boosted its position in Bristol-Myers Squibb (NYSE:BMY) by 13.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,283 shares of the biopharmaceutical company’s stock after purchasing an additional 1,079 shares during the period. Old North State Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $526,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BMY. Reston Wealth Management LLC bought a new position in Bristol-Myers Squibb in the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management raised its stake in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 187 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of Bristol-Myers Squibb during the third quarter worth $28,000. Darwin Wealth Management LLC acquired a new stake in Bristol-Myers Squibb in the third quarter valued at $29,000. Finally, Valued Wealth Advisors LLC raised its position in Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on BMY. Bank of America reiterated a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Citigroup increased their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Morgan Stanley upped their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. UBS Group lifted their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price target for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Two research 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, the company presently has a consensus rating of “Hold” and a consensus target price of $56.93.

Bristol-Myers Squibb Stock Down 1.3 %

Bristol-Myers Squibb stock opened at $59.15 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The firm’s fifty day moving average price is $57.63 and its two-hundred day moving average price is $53.47. The firm has a market capitalization of $119.97 billion, a price-to-earnings ratio of -16.48, a price-to-earnings-growth ratio of 2.10 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.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were issued a dividend of $0.62 per share. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is currently -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.