Summit Financial Wealth Advisors LLC Boosts Stake in Bristol-Myers Squibb (NYSE:BMY)

Summit Financial Wealth Advisors LLC grew its position in Bristol-Myers Squibb (NYSE:BMY) by 24.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,042 shares of the biopharmaceutical company’s stock after purchasing an additional 2,384 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Bristol-Myers Squibb were worth $722,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Morse Asset Management Inc lifted its position in Bristol-Myers Squibb by 25.0% during the 3rd quarter. Morse Asset Management Inc now owns 10,000 shares of the biopharmaceutical company’s stock worth $517,000 after acquiring an additional 2,000 shares in the last quarter. Continuum Advisory LLC raised its stake in shares of Bristol-Myers Squibb by 39.1% during the third quarter. Continuum Advisory LLC now owns 1,506 shares of the biopharmaceutical company’s stock valued at $78,000 after purchasing an additional 423 shares during the period. Coldstream Capital Management Inc. boosted its stake in shares of Bristol-Myers Squibb by 47.1% in the third quarter. Coldstream Capital Management Inc. now owns 29,133 shares of the biopharmaceutical company’s stock valued at $1,532,000 after purchasing an additional 9,324 shares during the period. Sunbelt Securities Inc. grew its holdings in Bristol-Myers Squibb by 6.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 20,116 shares of the biopharmaceutical company’s stock valued at $1,041,000 after purchasing an additional 1,173 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its stake in Bristol-Myers Squibb by 70.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 278,908 shares of the biopharmaceutical company’s stock worth $14,431,000 after buying an additional 115,488 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded down $2.53 during trading hours on Thursday, reaching $51.21. The stock had a trading volume of 3,414,580 shares, compared to its average volume of 12,833,907. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The firm has a 50-day simple moving average of $58.07 and a 200-day simple moving average of $56.73. The firm has a market capitalization of $104.20 billion, a PE ratio of -11.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, equities analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.84%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the acquisition, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Truist Financial lifted 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 note on Wednesday, January 8th. Cantor Fitzgerald increased their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their target price for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $57.67.

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.