Oak Harvest Investment Services Acquires 818 Shares of Bristol-Myers Squibb (NYSE:BMY)

Oak Harvest Investment Services grew its stake in Bristol-Myers Squibb (NYSE:BMY) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,597 shares of the biopharmaceutical company’s stock after buying an additional 818 shares during the period. Oak Harvest Investment Services’ holdings in Bristol-Myers Squibb were worth $5,973,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Inspire Trust Co. N.A. grew its holdings in shares of Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock valued at $5,355,000 after buying an additional 29,044 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth $488,000. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after purchasing an additional 206 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in Bristol-Myers Squibb by 34.3% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock worth $2,305,000 after purchasing an additional 11,387 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its stake in Bristol-Myers Squibb by 81.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after buying an additional 34,418 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.1 %

Shares of BMY opened at $59.11 on Friday. 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 business’s 50 day moving average price is $57.59 and its 200-day moving average price is $53.02. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly 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. 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 analysts’ expectations of $11.26 billion. During the same quarter in the previous year, the business posted $2.00 EPS. Bristol-Myers Squibb’s revenue was up 8.4% compared to the same quarter last year. On average, equities analysts predict that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.20%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -69.08%.

Insider Activity

In other news, SVP Phil M. Holzer sold 700 shares of the company’s 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 completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 18th. UBS Group raised their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $56.60.

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.