Providence Capital Advisors LLC Raises Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Providence Capital Advisors LLC boosted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 52,480 shares of the biopharmaceutical company’s stock after purchasing an additional 221 shares during the period. Providence Capital Advisors LLC’s holdings in Bristol-Myers Squibb were worth $2,968,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Fairway Wealth LLC acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $28,000. Dunhill Financial LLC increased its holdings in Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 189 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $34,000. Westend Capital Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $38,000. Finally, Tacita Capital Inc acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,823 shares of the company’s stock in a transaction dated 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 acquisition, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BMY shares. Cantor Fitzgerald upped their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Wells Fargo & Company raised their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Truist Financial boosted 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. Bank of America restated 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, Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their target price for the company from $63.00 to $70.00 in a report on Monday, December 16th. Two investment 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $58.90 on Friday. The company has a market cap of $119.52 billion, a P/E ratio of -13.33, a P/E/G ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. 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 stock has a 50-day moving average of $58.47 and a two-hundred day moving average of $56.17.

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

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.21%. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

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.