Carmel Capital Partners LLC Takes $212,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Carmel Capital Partners LLC acquired a new stake in Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,748 shares of the biopharmaceutical company’s stock, valued at approximately $212,000.

Several other large investors have also modified their holdings of the company. Wealthspire Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 0.6% in the fourth quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock valued at $1,622,000 after acquiring an additional 170 shares during the period. Edmp Inc. raised its stake in shares of Bristol-Myers Squibb by 0.4% during the fourth quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock worth $2,353,000 after purchasing an additional 171 shares during the last quarter. Trust Point Inc. raised its stake 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 last quarter. Bedel Financial Consulting Inc. raised its stake in shares of Bristol-Myers Squibb by 3.2% during the fourth quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock worth $340,000 after purchasing an additional 175 shares during the last quarter. Finally, Horst & Graben Wealth Management LLC raised its stake 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 last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Up 0.7 %

Shares of BMY stock opened at $59.85 on Thursday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. The stock has a market cap of $121.44 billion, a P/E ratio of -13.54, a P/E/G ratio of 2.07 and a beta of 0.45. The business has a fifty day simple moving average of $57.28 and a 200-day simple moving average of $54.97. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

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 analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. On average, analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Wall Street Analysts Forecast Growth

BMY has been the subject of several analyst reports. Truist Financial upped their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Wolfe Research initiated coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Wells Fargo & Company upped their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald increased their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $57.86.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.