Summit Securities Group LLC Has $2.92 Million Holdings in Bristol-Myers Squibb (NYSE:BMY)

Summit Securities Group LLC grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 1,968.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 51,700 shares of the biopharmaceutical company’s stock after purchasing an additional 49,200 shares during the period. Bristol-Myers Squibb comprises approximately 0.6% of Summit Securities Group LLC’s portfolio, making the stock its 23rd biggest position. Summit Securities Group LLC’s holdings in Bristol-Myers Squibb were worth $2,924,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Portland Global Advisors LLC increased its position in shares of Bristol-Myers Squibb by 7.2% during the fourth quarter. Portland Global Advisors LLC now owns 5,419 shares of the biopharmaceutical company’s stock valued at $306,000 after acquiring an additional 365 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of Bristol-Myers Squibb by 49.7% in the 4th quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock worth $639,837,000 after buying an additional 3,787,075 shares during the last quarter. MV Capital Management Inc. grew its position in Bristol-Myers Squibb by 16.9% during the fourth quarter. MV Capital Management Inc. now owns 3,155 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 456 shares during the period. Allianz SE purchased a new stake in Bristol-Myers Squibb during the fourth quarter worth about $5,679,000. Finally, Tucker Asset Management LLC raised its position in Bristol-Myers Squibb by 3,313.6% in the fourth quarter. Tucker Asset Management LLC now owns 4,779 shares of the biopharmaceutical company’s stock worth $270,000 after acquiring an additional 4,639 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on BMY shares. Citigroup upped their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Cantor Fitzgerald increased their price target 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. Truist Financial boosted their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Bank of America reiterated a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price target for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $57.86.

Insider Buying and Selling

In other news, EVP Samit Hirawat acquired 1,823 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were bought 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. This represents a 2.94 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $60.10 on Friday. The firm’s 50 day moving average price is $58.55 and its 200-day moving average price is $56.30. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The company has a market cap of $121.96 billion, a PE ratio of -13.60, a P/E/G ratio of 2.07 and a beta of 0.43.

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, 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%. Sell-side analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

About Bristol-Myers Squibb

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.