Partnership Wealth Management LLC Has $1.58 Million Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Partnership Wealth Management LLC boosted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 6.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,867 shares of the biopharmaceutical company’s stock after acquiring an additional 1,658 shares during the quarter. Bristol-Myers Squibb makes up approximately 1.3% of Partnership Wealth Management LLC’s holdings, making the stock its 17th biggest holding. Partnership Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $1,576,000 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 BMY. Lantz Financial LLC grew its holdings in shares of Bristol-Myers Squibb by 17.4% during the second quarter. Lantz Financial LLC now owns 11,799 shares of the biopharmaceutical company’s stock worth $490,000 after purchasing an additional 1,747 shares during the last quarter. Caprock Group LLC raised its stake in shares of Bristol-Myers Squibb by 56.0% during the second quarter. Caprock Group LLC now owns 44,767 shares of the biopharmaceutical company’s stock valued at $1,859,000 after acquiring an additional 16,069 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of Bristol-Myers Squibb by 29,957.4% during the second quarter. Quest Partners LLC now owns 40,878 shares of the biopharmaceutical company’s stock worth $1,698,000 after purchasing an additional 40,742 shares during the period. First Foundation Advisors grew its stake in shares of Bristol-Myers Squibb by 73.0% in the second quarter. First Foundation Advisors now owns 5,656 shares of the biopharmaceutical company’s stock worth $235,000 after purchasing an additional 2,386 shares during the last quarter. Finally, Wedbush Securities Inc. increased its holdings in Bristol-Myers Squibb by 2.4% in the second quarter. Wedbush Securities Inc. now owns 60,114 shares of the biopharmaceutical company’s stock valued at $2,497,000 after purchasing an additional 1,424 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.7 %

Shares of NYSE:BMY traded down $0.39 during mid-day trading on Wednesday, hitting $56.75. 11,043,603 shares of the company traded hands, compared to its average volume of 9,988,576. The stock has a market cap of $115.10 billion, a P/E ratio of -15.81, a P/E/G ratio of 15.20 and a beta of 0.45. The stock has a 50-day moving average price of $57.31 and a two-hundred day moving average price of $51.26. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the prior year, the company posted $2.00 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities research analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.37%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -69.08%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wolfe Research started coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Truist Financial increased their target price 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. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Bank of America reiterated a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Finally, Barclays upped their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $56.27.

Insider Buying and Selling

In related news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the transaction, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction on Friday, November 1st. The stock was bought at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

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.