DT Investment Partners LLC Boosts Holdings in Bristol-Myers Squibb (NYSE:BMY)

DT Investment Partners LLC raised its holdings in Bristol-Myers Squibb (NYSE:BMY) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,642 shares of the biopharmaceutical company’s stock after acquiring an additional 811 shares during the quarter. DT Investment Partners LLC’s holdings in Bristol-Myers Squibb were worth $1,224,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BMY. Reston Wealth Management LLC acquired a new stake in Bristol-Myers Squibb in the third quarter valued at $25,000. Hollencrest Capital Management lifted its holdings in Bristol-Myers Squibb by 61.3% in the third 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 period. Kennebec Savings Bank acquired a new stake in Bristol-Myers Squibb in the third quarter valued at $28,000. Darwin Wealth Management LLC acquired a new stake in Bristol-Myers Squibb in the third quarter valued at $29,000. Finally, Valued Wealth Advisors LLC lifted its holdings in Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 549 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.4 %

BMY opened at $55.93 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 stock has a market capitalization 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 business has a 50-day moving average of $57.38 and a two-hundred day moving average of $54.02. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.81% and a negative net margin of 18.53%. On average, research analysts expect that Bristol-Myers Squibb will post 6.75 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm 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. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.43%. Bristol-Myers Squibb’s payout ratio is -56.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BMY shares. Truist Financial raised their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target for the company. Cantor Fitzgerald lifted their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Citigroup lifted their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $57.86.

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.