114,649 Shares in Bristol-Myers Squibb (NYSE:BMY) Bought by InvesTrust

InvesTrust purchased a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 114,649 shares of the biopharmaceutical company’s stock, valued at approximately $6,466,000. Bristol-Myers Squibb makes up 1.8% of InvesTrust’s investment portfolio, making the stock its 24th largest position.

Several other hedge funds have also recently added to or reduced their stakes in BMY. Fulton Bank N.A. lifted its position in Bristol-Myers Squibb by 5.2% in the 4th quarter. Fulton Bank N.A. now owns 62,249 shares of the biopharmaceutical company’s stock worth $3,521,000 after buying an additional 3,062 shares during the last quarter. Weaver Consulting Group bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $202,000. Range Financial Group LLC boosted its stake in shares of Bristol-Myers Squibb by 763.1% in the 4th quarter. Range Financial Group LLC now owns 49,195 shares of the biopharmaceutical company’s stock valued at $2,782,000 after purchasing an additional 43,495 shares in the last quarter. First County Bank CT grew its holdings in shares of Bristol-Myers Squibb by 18.0% during the 4th quarter. First County Bank CT now owns 19,433 shares of the biopharmaceutical company’s stock valued at $1,099,000 after purchasing an additional 2,967 shares during the last quarter. Finally, Spartan Planning & Wealth Management purchased a new position in Bristol-Myers Squibb in the 4th quarter worth $227,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.9 %

Shares of NYSE:BMY traded down $0.49 during midday trading on Wednesday, reaching $56.65. The company’s stock had a trading volume of 6,055,878 shares, compared to its average volume of 8,962,421. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The firm has a 50 day moving average of $57.31 and a 200-day moving average of $51.26. The firm has a market capitalization of $114.90 billion, a P/E ratio of -15.78, a PEG ratio of 15.20 and a beta of 0.45. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.00 earnings per share. On average, research analysts anticipate that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.38%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -69.08%.

Insider Buying and Selling

In other news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BMY. UBS Group raised their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Citigroup increased their price objective on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Truist Financial upped their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Wolfe Research initiated coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $56.27.

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.