PKS Advisory Services LLC Makes New $304,000 Investment in Bristol-Myers Squibb (NYSE:BMY)

PKS Advisory Services LLC purchased a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,373 shares of the biopharmaceutical company’s stock, valued at approximately $304,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. United Bank raised its holdings in shares of Bristol-Myers Squibb by 2.7% in the 3rd quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock worth $896,000 after purchasing an additional 456 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth $2,961,000. Larson Financial Group LLC boosted its position in shares of Bristol-Myers Squibb by 76.3% in the 3rd quarter. Larson Financial Group LLC now owns 15,461 shares of the biopharmaceutical company’s stock valued at $800,000 after purchasing an additional 6,690 shares during the period. Centaurus Financial Inc. grew its position in Bristol-Myers Squibb by 21.3% during the 3rd quarter. Centaurus Financial Inc. now owns 10,919 shares of the biopharmaceutical company’s stock worth $565,000 after purchasing an additional 1,920 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Bristol-Myers Squibb during the 3rd quarter worth about $133,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $59.22 on Wednesday. The firm has a market cap of $120.18 billion, a P/E ratio of -13.40, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The firm’s 50-day simple moving average is $58.36 and its 200-day simple moving average is $56.13. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. 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 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 positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is -56.11%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BMY. Cantor Fitzgerald lifted their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Wells Fargo & Company boosted their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Citigroup raised their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Bank of America reaffirmed a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Finally, Truist Financial lifted their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given 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 an average target price of $57.86.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $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 link. 0.09% of the stock is currently owned by corporate insiders.

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.