Benjamin Edwards Inc. Increases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Benjamin Edwards Inc. increased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.6% in the 4th quarter, Holdings Channel reports. The firm owned 115,907 shares of the biopharmaceutical company’s stock after buying an additional 672 shares during the period. Benjamin Edwards Inc.’s holdings in Bristol-Myers Squibb were worth $6,556,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its holdings in Bristol-Myers Squibb by 4.4% during the third quarter. Principal Financial Group Inc. now owns 2,458,536 shares of the biopharmaceutical company’s stock valued at $127,205,000 after buying an additional 102,790 shares during the last quarter. Pensionfund Sabic increased its stake in shares of Bristol-Myers Squibb by 32.8% in the 4th quarter. Pensionfund Sabic now owns 40,500 shares of the biopharmaceutical company’s stock worth $2,291,000 after purchasing an additional 10,000 shares in the last quarter. CWA Asset Management Group LLC raised its holdings in Bristol-Myers Squibb by 27.5% in the 4th quarter. CWA Asset Management Group LLC now owns 111,149 shares of the biopharmaceutical company’s stock worth $6,287,000 after purchasing an additional 23,957 shares during the period. Boltwood Capital Management lifted its position in Bristol-Myers Squibb by 19.3% during the fourth quarter. Boltwood Capital Management now owns 4,705 shares of the biopharmaceutical company’s stock valued at $266,000 after purchasing an additional 760 shares in the last quarter. Finally, Neville Rodie & Shaw Inc. increased its position in Bristol-Myers Squibb by 25.9% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 50,589 shares of the biopharmaceutical company’s stock worth $2,861,000 after buying an additional 10,400 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Truist Financial raised their price objective 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. Jefferies Financial Group cut 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. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. UBS Group cut their price objective on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, Citigroup boosted their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $58.00.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The stock was purchased 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 in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $50.05 on Tuesday. The stock has a 50 day moving average price of $55.53 and a 200 day moving average price of $56.39. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The firm has a market capitalization of $101.86 billion, a P/E ratio of -11.32, a P/E/G ratio of 2.07 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results 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. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The firm had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. During the same period in the previous year, the firm earned ($4.40) earnings per share. The business’s revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 4th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.96%. The ex-dividend date was Friday, April 4th. Bristol-Myers Squibb’s payout ratio is 92.88%.

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.