Holderness Investments Co. Has $2.42 Million Holdings in Bristol-Myers Squibb (NYSE:BMY)

Holderness Investments Co. raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,770 shares of the biopharmaceutical company’s stock after buying an additional 2,128 shares during the quarter. Holderness Investments Co.’s holdings in Bristol-Myers Squibb were worth $2,419,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BMY. Raymond James Financial Inc. acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $257,618,000. FMR LLC lifted its holdings in shares of Bristol-Myers Squibb by 10.5% during the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after buying an additional 4,275,787 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Bristol-Myers Squibb by 695.1% in the third quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock valued at $183,971,000 after purchasing an additional 3,107,672 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Bristol-Myers Squibb by 18.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock valued at $986,931,000 after purchasing an additional 3,002,418 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Bristol-Myers Squibb by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock valued at $3,157,713,000 after purchasing an additional 1,968,729 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The shares were purchased 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 owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $60.39 on Friday. The business’s 50-day simple moving average is $58.07 and its 200 day simple moving average is $55.82. The stock has a market cap of $122.56 billion, a price-to-earnings ratio of -13.66, a P/E/G ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. 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 posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating 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 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.11%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is -56.11%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BMY. Cantor Fitzgerald upped their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Citigroup increased their price objective 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. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price objective for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Bank of America reiterated a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company increased their price objective 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. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $57.86.

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.