Viewpoint Capital Management LLC raised its position in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,155 shares of the biopharmaceutical company’s stock after purchasing an additional 2,579 shares during the period. Bristol-Myers Squibb comprises about 1.0% of Viewpoint Capital Management LLC’s investment portfolio, making the stock its 27th largest position. Viewpoint Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $1,875,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of BMY. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb during the third quarter worth about $25,000. Hollencrest Capital Management increased its stake in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 187 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Bristol-Myers Squibb in the third quarter worth approximately $28,000. Darwin Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the third quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC increased its position in Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
BMY has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective for the company. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Cantor Fitzgerald raised their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Wolfe Research began coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $57.86.
Bristol-Myers Squibb Trading Up 0.8 %
Shares of Bristol-Myers Squibb stock opened at $55.99 on Wednesday. The business has a fifty day simple moving average of $57.48 and a 200-day simple moving average of $53.97. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. The firm has a market cap of $113.56 billion, a price-to-earnings ratio of -12.67, a price-to-earnings-growth ratio of 2.13 and a beta of 0.45. 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 – Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.81%. On average, equities analysts forecast that Bristol-Myers Squibb will post 6.75 EPS for the current fiscal year.
Bristol-Myers Squibb Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is presently -56.11%.
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.
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