Bristol-Myers Squibb (NYSE:BMY) Position Increased by Concord Wealth Partners

Concord Wealth Partners increased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 229.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,063 shares of the biopharmaceutical company’s stock after buying an additional 11,880 shares during the quarter. Concord Wealth Partners’ holdings in Bristol-Myers Squibb were worth $965,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Concord Asset Management LLC VA bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $822,000. Chicago Partners Investment Group LLC grew its position in Bristol-Myers Squibb by 10.1% in the 4th quarter. Chicago Partners Investment Group LLC now owns 18,393 shares of the biopharmaceutical company’s stock worth $1,045,000 after purchasing an additional 1,684 shares during the last quarter. Waldron Private Wealth LLC raised its holdings in shares of Bristol-Myers Squibb by 123.9% during the fourth quarter. Waldron Private Wealth LLC now owns 28,498 shares of the biopharmaceutical company’s stock valued at $1,612,000 after buying an additional 15,770 shares during the last quarter. Heck Capital Advisors LLC bought a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $188,000. Finally, TriaGen Wealth Management LLC acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at approximately $207,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Stock Down 0.5 %

Shares of BMY stock opened at $58.86 on Friday. The firm has a market cap of $119.38 billion, a PE ratio of -16.40, a price-to-earnings-growth ratio of 2.10 and a beta of 0.45. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10. The stock has a 50 day moving average of $57.60 and a 200-day moving average of $53.19. 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 released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Bristol-Myers Squibb’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.00 earnings per share. On average, equities analysts predict that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders 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 dividend yield of 4.21%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -69.08%.

Analysts Set New Price Targets

BMY has been the subject of several recent analyst reports. UBS Group increased their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. BMO Capital Markets boosted their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Finally, Morgan Stanley raised their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $56.60.

About Bristol-Myers Squibb

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.