Palacios Wealth Management LLC Buys Shares of 7,816 Bristol-Myers Squibb (NYSE:BMY)

Palacios Wealth Management LLC bought a new stake in Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,816 shares of the biopharmaceutical company’s stock, valued at approximately $440,000.

A number of other large investors also recently bought and sold shares of BMY. Reston Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $25,000. Hollencrest Capital Management lifted its position in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares in the last quarter. Kennebec Savings Bank acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $28,000. Darwin Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $29,000. Finally, Valued Wealth Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BMY. Cantor Fitzgerald upped their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Bank of America restated a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their target price for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Wolfe Research began coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $55.93 on Friday. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The stock has a fifty day moving average price of $57.38 and a 200 day moving average price of $54.02. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.10. The company has a market cap of $113.44 billion, a PE ratio of -12.65, a P/E/G ratio of 2.13 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.81% and a negative net margin of 18.53%. Sell-side analysts forecast that Bristol-Myers Squibb will post 6.75 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were issued a $0.62 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.43%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

Bristol-Myers Squibb 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.