Wedmont Private Capital Has $586,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Wedmont Private Capital raised its position in Bristol-Myers Squibb (NYSE:BMY) by 29.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,487 shares of the biopharmaceutical company’s stock after buying an additional 2,392 shares during the quarter. Wedmont Private Capital’s holdings in Bristol-Myers Squibb were worth $586,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BMY. Thoroughbred Financial Services LLC boosted its holdings in Bristol-Myers Squibb by 9.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 10,353 shares of the biopharmaceutical company’s stock valued at $430,000 after purchasing an additional 901 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Bristol-Myers Squibb by 1.6% in the second quarter. Envestnet Asset Management Inc. now owns 2,268,887 shares of the biopharmaceutical company’s stock valued at $94,227,000 after buying an additional 34,643 shares in the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in shares of Bristol-Myers Squibb by 3.8% in the second quarter. Mesirow Financial Investment Management Inc. now owns 50,808 shares of the biopharmaceutical company’s stock valued at $2,110,000 after buying an additional 1,882 shares during the period. Citizens Financial Group Inc. RI grew its position in Bristol-Myers Squibb by 29.7% during the second quarter. Citizens Financial Group Inc. RI now owns 35,203 shares of the biopharmaceutical company’s stock worth $1,462,000 after buying an additional 8,070 shares in the last quarter. Finally, Luts & Greenleigh Group Inc. bought a new position in Bristol-Myers Squibb during the 2nd quarter worth $304,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Buying and Selling at Bristol-Myers Squibb

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

Bristol-Myers Squibb Stock Up 0.7 %

NYSE:BMY opened at $55.73 on Wednesday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08. 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 company has a market cap of $113.03 billion, a PE ratio of -15.52, a P/E/G ratio of 15.20 and a beta of 0.45. The firm’s 50 day simple moving average is $57.44 and its 200 day simple moving average is $51.76.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.31. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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 disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be paid a $0.62 dividend. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

Analyst Upgrades and Downgrades

BMY has been the topic of several analyst reports. Barclays increased their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their target price for the company from $55.00 to $73.00 in a report 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 stock a “buy” rating in a report on Wednesday, January 8th. UBS Group lifted their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, TD Cowen upped their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $56.27.

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.