Bristol-Myers Squibb (NYSE:BMY) Position Increased by Grove Bank & Trust

Grove Bank & Trust lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 14.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 18,550 shares of the biopharmaceutical company’s stock after acquiring an additional 2,407 shares during the quarter. Grove Bank & Trust’s holdings in Bristol-Myers Squibb were worth $1,049,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BMY. Reston Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the third quarter worth $25,000. Hollencrest Capital Management boosted its holdings 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 during the period. Kennebec Savings Bank purchased a new position in Bristol-Myers Squibb during the third quarter valued at approximately $28,000. Darwin Wealth Management LLC acquired a new position in Bristol-Myers Squibb in the 3rd quarter valued at approximately $29,000. Finally, Valued Wealth Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 549 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bristol-Myers Squibb

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

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $56.35 on Monday. 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’s fifty day simple moving average is $57.53 and its 200 day simple moving average is $52.00. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08. The firm has a market cap of $114.30 billion, a price-to-earnings ratio of -15.70, a P/E/G ratio of 1.95 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion during 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%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $2.00 EPS. On average, analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, January 3rd. 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 yield of 4.40%. Bristol-Myers Squibb’s dividend payout ratio is -69.08%.

Analyst Ratings Changes

Several brokerages have weighed in on BMY. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Truist Financial upped their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Bank of America reiterated a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Finally, TD Cowen upped their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target 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.