Asset Planning Inc Purchases Shares of 20,734 Bristol-Myers Squibb (NYSE:BMY)

Asset Planning Inc purchased a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,734 shares of the biopharmaceutical company’s stock, valued at approximately $1,173,000. Bristol-Myers Squibb accounts for 0.9% of Asset Planning Inc’s holdings, making the stock its 25th largest position.

Several other institutional investors have also added to or reduced their stakes in the business. Edmp Inc. boosted its position in Bristol-Myers Squibb by 0.4% during the fourth quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock valued at $2,353,000 after buying an additional 171 shares during the period. Trust Point Inc. boosted its holdings in shares of Bristol-Myers Squibb by 1.9% during the fourth quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock worth $533,000 after purchasing an additional 172 shares during the period. Horst & Graben Wealth Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 2.4% during the fourth quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock worth $426,000 after purchasing an additional 179 shares during the period. Meridian Management Co. boosted its holdings in shares of Bristol-Myers Squibb by 0.6% during the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock worth $1,463,000 after purchasing an additional 182 shares during the period. Finally, Drive Wealth Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 2.1% during the fourth quarter. Drive Wealth Management LLC now owns 8,878 shares of the biopharmaceutical company’s stock worth $502,000 after purchasing an additional 182 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of analyst reports. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their target price for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Truist Financial increased their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Finally, Citigroup raised their price objective 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, twelve have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $55.93 on Friday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. The company has a 50 day simple moving average of $57.38 and a two-hundred day simple moving average of $54.02. The company has a market capitalization of $113.44 billion, a price-to-earnings ratio of -12.65, a P/E/G ratio of 2.13 and a beta of 0.45. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating 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 13.81%. Analysts expect that Bristol-Myers Squibb will post 6.75 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were given a dividend of $0.62 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.43%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

Bristol-Myers Squibb Company 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.