Anchor Pointe Wealth Management LLC Purchases New Shares in Bristol-Myers Squibb (NYSE:BMY)

Anchor Pointe Wealth Management LLC acquired a new position in Bristol-Myers Squibb (NYSE:BMY) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,166 shares of the biopharmaceutical company’s stock, valued at approximately $234,000.

Several other hedge funds have also modified their holdings of BMY. Mattson Financial Services LLC raised its holdings in Bristol-Myers Squibb by 3,318.2% in the 4th quarter. Mattson Financial Services LLC now owns 752 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 730 shares during the period. Wood Tarver Financial Group LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $38,000. Park Square Financial Group LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $26,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $99,778,000. Finally, Pinnacle Wealth Planning Services Inc. lifted its position in shares of Bristol-Myers Squibb by 8.4% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 4,514 shares of the biopharmaceutical company’s stock valued at $255,000 after buying an additional 349 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $46.85 on Wednesday. The firm’s 50-day moving average is $51.26 and its 200-day moving average is $55.60. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The company has a market cap of $95.34 billion, a price-to-earnings ratio of -10.60, a PEG ratio of 2.07 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.30. The company had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the business earned ($4.40) earnings per share. Equities research analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 4th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend was Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Argus upgraded shares of Bristol-Myers Squibb to a “hold” rating in a research report on Friday, April 25th. UBS Group reduced their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Piper Sandler assumed coverage on Bristol-Myers Squibb in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group dropped their target price on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $58.00.

Insiders Place Their Bets

In related news, EVP Samit Hirawat purchased 4,250 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the transaction, the executive vice president now owns 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.