Pinnacle Associates Ltd. grew its stake in Bristol Myers Squibb Company (NYSE:BMY – Free Report) by 9.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,070 shares of the biopharmaceutical company’s stock after acquiring an additional 9,997 shares during the period. Pinnacle Associates Ltd.’s holdings in Bristol Myers Squibb were worth $6,369,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of BMY. Physician Wealth Advisors Inc. boosted its position in Bristol Myers Squibb by 73.5% during the fourth quarter. Physician Wealth Advisors Inc. now owns 477 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 202 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Bristol Myers Squibb during the 2nd quarter worth approximately $25,000. EQ Wealth Advisors LLC bought a new stake in shares of Bristol Myers Squibb during the 4th quarter worth approximately $32,000. Garner Asset Management Corp acquired a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at approximately $35,000. Finally, Beacon Financial Strategies CORP acquired a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 76.41% of the company’s stock.
Bristol Myers Squibb Trading Up 0.7%
Shares of Bristol Myers Squibb stock opened at $56.76 on Friday. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.42 and a quick ratio of 1.28. The business has a fifty day simple moving average of $58.74 and a two-hundred day simple moving average of $55.34. Bristol Myers Squibb Company has a 1 year low of $42.52 and a 1 year high of $62.89. The company has a market capitalization of $115.91 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 0.16 and a beta of 0.26.
Bristol Myers Squibb Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Thursday, April 2nd were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Thursday, April 2nd. Bristol Myers Squibb’s dividend payout ratio is currently 70.79%.
Insider Transactions at Bristol Myers Squibb
In other news, EVP David V. Elkins sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $61.67, for a total value of $1,850,100.00. Following the transaction, the executive vice president owned 159,248 shares of the company’s stock, valued at approximately $9,820,824.16. This represents a 15.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.05% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on BMY shares. Bank of America lowered their target price on shares of Bristol Myers Squibb from $68.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Barclays began coverage on shares of Bristol Myers Squibb in a research report on Thursday, February 19th. They issued an “overweight” rating and a $75.00 price objective for the company. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a report on Friday, May 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Bristol Myers Squibb in a research note on Monday, March 23rd. Finally, Royal Bank Of Canada assumed coverage on Bristol Myers Squibb in a report on Tuesday, February 24th. They set a “sector perform” rating and a $60.00 price target for the company. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $61.31.
View Our Latest Stock Analysis on Bristol Myers Squibb
Bristol Myers Squibb Company Profile
Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.
BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.
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