Avestar Capital LLC Purchases 3,575 Shares of Bristol-Myers Squibb (NYSE:BMY)

Avestar Capital LLC grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 31.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,890 shares of the biopharmaceutical company’s stock after buying an additional 3,575 shares during the quarter. Avestar Capital LLC’s holdings in Bristol-Myers Squibb were worth $842,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Edmp Inc. lifted its stake in shares of Bristol-Myers Squibb by 0.4% in the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock valued at $2,353,000 after purchasing an additional 171 shares during the last quarter. Trust Point Inc. raised its holdings in Bristol-Myers Squibb by 1.9% during the 4th quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock valued at $533,000 after buying an additional 172 shares during the period. Horst & Graben Wealth Management LLC lifted its position in Bristol-Myers Squibb by 2.4% in the fourth quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock worth $426,000 after buying an additional 179 shares during the last quarter. Meridian Management Co. increased its position in Bristol-Myers Squibb by 0.6% during the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock valued at $1,463,000 after acquiring an additional 182 shares during the last quarter. Finally, Drive Wealth Management LLC increased its position in Bristol-Myers Squibb by 2.1% during the fourth quarter. Drive Wealth Management LLC now owns 8,878 shares of the biopharmaceutical company’s stock valued at $502,000 after acquiring an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of recent analyst reports. Bank of America reiterated a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Citigroup lifted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price on the stock. Finally, Truist Financial upped their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Stock Down 0.4 %

Shares of BMY stock opened at $55.93 on Friday. The stock’s fifty day moving average price is $57.38 and its 200 day moving average price is $54.02. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.10. The company has a market cap of $113.44 billion, a price-to-earnings ratio of -12.65, a price-to-earnings-growth ratio of 2.13 and a beta of 0.45. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) 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, research analysts expect that Bristol-Myers Squibb will post 6.75 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were issued a $0.62 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.43%. 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 -56.11%.

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.