Essex Savings Bank Acquires 733 Shares of Bristol-Myers Squibb (NYSE:BMY)

Essex Savings Bank lifted its stake in Bristol-Myers Squibb (NYSE:BMY) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,432 shares of the biopharmaceutical company’s stock after buying an additional 733 shares during the period. Essex Savings Bank’s holdings in Bristol-Myers Squibb were worth $986,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth $25,000. Hollencrest Capital Management raised its position in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 187 shares in the last quarter. Kennebec Savings Bank bought a new position in Bristol-Myers Squibb in the third quarter valued at approximately $28,000. Darwin Wealth Management LLC acquired a new position in Bristol-Myers Squibb during the third quarter valued at approximately $29,000. Finally, Valued Wealth Advisors LLC raised its holdings 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 worth $31,000 after buying an additional 549 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BMY shares. Truist Financial raised their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Wolfe Research initiated coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Barclays boosted their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Finally, Citigroup lifted their price target on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Two 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 MarketBeat, the company has an average rating of “Hold” and a consensus price target of $56.27.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction that occurred on 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 purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This represents a 3.04 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Stock Up 0.4 %

Shares of NYSE:BMY opened at $55.96 on Thursday. The stock has a market cap of $113.50 billion, a price-to-earnings ratio of -15.59, a PEG ratio of 15.20 and a beta of 0.45. The business’s 50 day moving average is $57.44 and its 200 day moving average is $51.76. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the previous year, the firm earned $2.00 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date is Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is -69.08%.

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.