Xcel Wealth Management LLC Acquires 7,029 Shares of Bristol-Myers Squibb (NYSE:BMY)

Xcel Wealth Management LLC increased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 90.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,819 shares of the biopharmaceutical company’s stock after acquiring an additional 7,029 shares during the period. Xcel Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $838,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the third quarter valued at approximately $25,000. Hollencrest Capital Management lifted its stake 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 purchasing an additional 187 shares during the last quarter. Kennebec Savings Bank purchased a new position in Bristol-Myers Squibb in the third quarter valued at approximately $28,000. Darwin Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the third quarter valued at approximately $29,000. Finally, Valued Wealth Advisors LLC lifted its stake 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 purchasing an additional 549 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BMY has been the topic of several research analyst reports. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. BMO Capital Markets increased their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Citigroup increased their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Trading Up 1.5 %

Bristol-Myers Squibb stock opened at $59.71 on Friday. The stock has a market cap of $121.17 billion, a P/E ratio of -13.51, a PEG ratio of 2.07 and a beta of 0.45. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. The firm’s fifty day moving average price is $57.15 and its 200-day moving average price is $54.70. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping 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 13.93%. Equities research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date was Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.09% of the stock is owned by insiders.

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.