McClarren Financial Advisors Inc. Purchases Shares of 1,674 Bristol-Myers Squibb (NYSE:BMY)

McClarren Financial Advisors Inc. acquired a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, Holdings Channel reports. The fund acquired 1,674 shares of the biopharmaceutical company’s stock, valued at approximately $94,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $488,000. Inspire Trust Co. N.A. increased its position in shares of Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock valued at $5,355,000 after purchasing an additional 29,044 shares during the period. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Bristol-Myers Squibb by 3.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after purchasing an additional 206 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in Bristol-Myers Squibb by 34.3% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock worth $2,305,000 after purchasing an additional 11,387 shares during the period. Finally, iA Global Asset Management Inc. boosted its stake in Bristol-Myers Squibb by 81.3% during the third quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock worth $3,972,000 after buying an additional 34,418 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BMY shares. Wolfe Research initiated coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Cantor Fitzgerald increased their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Citigroup lifted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Finally, Truist Financial raised their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $56.17 on Thursday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.10. The stock has a 50-day simple moving average of $57.42 and a 200 day simple moving average of $54.00. 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 stock has a market capitalization of $113.92 billion, a price-to-earnings ratio of -12.71, a P/E/G ratio of 2.13 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.81%. On average, research analysts anticipate that Bristol-Myers Squibb will post 6.75 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.42%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -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.