Janney Montgomery Scott LLC Acquires 217,603 Shares of Bristol-Myers Squibb (NYSE:BMY)

Janney Montgomery Scott LLC lifted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 29.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 954,727 shares of the biopharmaceutical company’s stock after acquiring an additional 217,603 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Bristol-Myers Squibb were worth $53,999,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Reston Wealth Management LLC purchased a new stake in Bristol-Myers Squibb during the third quarter valued at about $25,000. Hollencrest Capital Management boosted its holdings in Bristol-Myers Squibb by 61.3% during the 3rd 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 period. Kennebec Savings Bank bought a new position in Bristol-Myers Squibb during the 3rd quarter worth approximately $28,000. Darwin Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the 3rd quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC lifted its position in Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 549 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $59.15 on Friday. The business has a fifty day moving average price of $57.39 and a 200-day moving average price of $52.36. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The company has a market capitalization of $119.97 billion, a PE ratio of -16.48, a PEG ratio of 2.02 and a beta of 0.45. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $11.26 billion. During the same period last year, the business earned $2.00 EPS. Bristol-Myers Squibb’s revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts expect that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.19%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -69.08%.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 5.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the purchase, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on BMY. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Bank of America reaffirmed a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Barclays boosted their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Finally, Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $56.27.

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.