Cornerstone Wealth Management LLC Has $1.46 Million Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Cornerstone Wealth Management LLC increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 21.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,874 shares of the biopharmaceutical company’s stock after buying an additional 4,496 shares during the period. Cornerstone Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $1,463,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in Bristol-Myers Squibb by 33.4% during the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock worth $1,116,000 after buying an additional 4,935 shares during the period. Secure Asset Management LLC boosted its position in Bristol-Myers Squibb by 37.8% during the 4th quarter. Secure Asset Management LLC now owns 9,848 shares of the biopharmaceutical company’s stock worth $557,000 after buying an additional 2,700 shares during the period. Red Door Wealth Management LLC boosted its position in Bristol-Myers Squibb by 4.2% during the 4th quarter. Red Door Wealth Management LLC now owns 10,788 shares of the biopharmaceutical company’s stock worth $610,000 after buying an additional 435 shares during the period. Donoghue Forlines LLC lifted its position in shares of Bristol-Myers Squibb by 57.1% in the 4th quarter. Donoghue Forlines LLC now owns 27,801 shares of the biopharmaceutical company’s stock worth $1,572,000 after purchasing an additional 10,106 shares during the period. Finally, Endeavor Private Wealth Inc. acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $45,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $59.68 on Friday. The firm has a market capitalization of $121.05 billion, a PE ratio of -16.63, a price-to-earnings-growth ratio of 2.02 and a beta of 0.45. The firm has a fifty day simple moving average of $57.40 and a two-hundred day simple moving average of $52.41. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data 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 firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate 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 business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.00 EPS. Analysts forecast that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.16%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target on the stock. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price target for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. BMO Capital Markets boosted their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, thirteen have assigned 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $56.27.

Insiders Place Their Bets

In related news, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the business’s 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 transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Company 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.