Bristol-Myers Squibb (NYSE:BMY) Holdings Boosted by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC lifted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 6.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,109 shares of the biopharmaceutical company’s stock after buying an additional 903 shares during the period. Cornerstone Wealth Group LLC’s holdings in Bristol-Myers Squibb were worth $798,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. KBC Group NV boosted its position in Bristol-Myers Squibb by 18.4% during the 4th quarter. KBC Group NV now owns 4,054,868 shares of the biopharmaceutical company’s stock worth $229,343,000 after acquiring an additional 628,908 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $312,000. Blue Trust Inc. grew its position in Bristol-Myers Squibb by 34.4% during the fourth quarter. Blue Trust Inc. now owns 34,273 shares of the biopharmaceutical company’s stock valued at $1,773,000 after purchasing an additional 8,772 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in Bristol-Myers Squibb by 3.5% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 48,942 shares of the biopharmaceutical company’s stock valued at $2,768,000 after buying an additional 1,634 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $490,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $59.68 on Monday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The business has a 50 day moving average price of $57.47 and a 200 day moving average price of $52.62. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.31. The business 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%. Bristol-Myers Squibb’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $2.00 earnings per share. As a group, equities analysts predict that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

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

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The stock was bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Phil M. Holzer sold 700 shares of the business’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 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 ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BMY shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. BMO Capital Markets upped their target price on 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. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Truist Financial increased their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Morgan Stanley boosted their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price 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.