Essential Planning LLC. Takes $384,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Essential Planning LLC. acquired a new stake in Bristol-Myers Squibb (NYSE:BMY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,870 shares of the biopharmaceutical company’s stock, valued at approximately $384,000.

A number of other institutional investors have also modified their holdings of the company. Truvestments Capital LLC grew its stake in shares of Bristol-Myers Squibb by 9.3% in the fourth quarter. Truvestments Capital LLC now owns 6,802 shares of the biopharmaceutical company’s stock valued at $385,000 after buying an additional 581 shares in the last quarter. Hopwood Financial Services Inc. acquired a new position in Bristol-Myers Squibb during the 4th quarter worth $85,000. EverSource Wealth Advisors LLC grew its stake in Bristol-Myers Squibb by 15.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 7,604 shares of the biopharmaceutical company’s stock worth $430,000 after purchasing an additional 1,015 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Bristol-Myers Squibb by 6.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 151,700 shares of the biopharmaceutical company’s stock worth $8,580,000 after purchasing an additional 8,745 shares in the last quarter. Finally, Moors & Cabot Inc. grew its stake in Bristol-Myers Squibb by 14.9% during the 4th quarter. Moors & Cabot Inc. now owns 89,229 shares of the biopharmaceutical company’s stock worth $5,047,000 after purchasing an additional 11,578 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BMY has been the subject of several analyst reports. Wells Fargo & Company boosted their target price 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. Cantor Fitzgerald boosted their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Citigroup boosted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Bank of America reaffirmed a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Finally, Wolfe Research began coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Stock Up 0.7 %

BMY opened at $60.22 on Friday. The business has a 50 day moving average price of $57.76 and a two-hundred day moving average price of $55.44. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The company has a market cap of $122.21 billion, a PE ratio of -13.63, a P/E/G ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, research analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is -56.11%.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the company’s stock in a transaction on Friday, February 14th. The shares were bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by insiders.

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.