Wrapmanager Inc. Purchases 1,170 Shares of Bristol-Myers Squibb (NYSE:BMY)

Wrapmanager Inc. grew its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 23.2% in the fourth quarter, HoldingsChannel reports. The firm owned 6,203 shares of the biopharmaceutical company’s stock after buying an additional 1,170 shares during the quarter. Wrapmanager Inc.’s holdings in Bristol-Myers Squibb were worth $351,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Truist Financial Corp grew its holdings in Bristol-Myers Squibb by 3.9% during the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock valued at $90,335,000 after purchasing an additional 60,365 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in Bristol-Myers Squibb in the fourth quarter worth about $488,000. Inspire Trust Co. N.A. lifted its position in Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock valued at $5,355,000 after acquiring an additional 29,044 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in Bristol-Myers Squibb by 3.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after buying an additional 206 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC raised its position in shares of Bristol-Myers Squibb by 34.3% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after purchasing an additional 11,387 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 3.6 %

Shares of NYSE:BMY opened at $57.83 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.10. The company has a fifty day simple moving average of $57.03 and a 200 day simple moving average of $54.48. The firm has a market cap of $117.34 billion, a PE ratio of -13.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share 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%. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were issued a $0.62 dividend. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

Insider Activity

In related news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price target for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. BMO Capital Markets boosted their price target 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. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Finally, Citigroup upped their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $57.86.

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.