Envestnet Portfolio Solutions Inc. Buys 31,884 Shares of Bristol-Myers Squibb (NYSE:BMY)

Envestnet Portfolio Solutions Inc. increased its stake in Bristol-Myers Squibb (NYSE:BMY) by 15.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 241,517 shares of the biopharmaceutical company’s stock after buying an additional 31,884 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Bristol-Myers Squibb were worth $13,660,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealthspire Advisors LLC grew its position in shares of Bristol-Myers Squibb by 0.6% in the 4th 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. lifted its stake in Bristol-Myers Squibb by 0.4% in the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock valued at $2,353,000 after purchasing an additional 171 shares during the last quarter. Trust Point Inc. increased its position in 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 buying an additional 172 shares during the last quarter. Bedel Financial Consulting Inc. raised its stake in Bristol-Myers Squibb by 3.2% in the fourth quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock valued at $340,000 after buying an additional 175 shares during the period. Finally, Horst & Graben Wealth Management LLC lifted its position in shares of Bristol-Myers Squibb by 2.4% in the fourth quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock valued at $426,000 after buying an additional 179 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was purchased at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by insiders.

Analysts Set New Price Targets

BMY has been the topic of a number of recent analyst reports. Citigroup boosted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Cantor Fitzgerald increased their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Wells Fargo & Company raised their target price on shares of 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. Bank of America reiterated a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Finally, Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price objective for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $59.01 on Monday. The company has a market capitalization of $119.75 billion, a price-to-earnings ratio of -13.35, a PEG ratio of 2.07 and a beta of 0.43. 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 has a twelve month low of $39.35 and a twelve month high of $63.33. The stock has a fifty day simple moving average of $57.81 and a 200 day simple moving average of $55.61.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 dividend yield of 4.20%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -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.