Abacus FCF Advisors LLC lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 66.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 203,358 shares of the biopharmaceutical company's stock after purchasing an additional 81,017 shares during the period. Bristol-Myers Squibb comprises about 1.5% of Abacus FCF Advisors LLC's investment portfolio, making the stock its 13th biggest holding. Abacus FCF Advisors LLC's holdings in Bristol-Myers Squibb were worth $11,502,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Truist Financial Corp boosted its holdings in shares of Bristol-Myers Squibb by 3.9% in the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company's stock valued at $90,335,000 after buying an additional 60,365 shares during the period. 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. boosted its stake in Bristol-Myers Squibb by 39.0% in 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 period. Versant Capital Management Inc grew its holdings in shares of Bristol-Myers Squibb by 14.0% during the fourth quarter. Versant Capital Management Inc now owns 78,690 shares of the biopharmaceutical company's stock valued at $4,451,000 after purchasing an additional 9,692 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $474,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, EVP Samit Hirawat bought 1,823 shares of the business's stock in a transaction on Friday, February 14th. The shares were bought at an average cost of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares in the company, 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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company's stock.
Bristol-Myers Squibb Price Performance
Shares of NYSE:BMY traded up $0.22 during trading hours on Friday, hitting $50.68. 13,408,290 shares of the company's stock traded hands, compared to its average volume of 12,926,949. The company's fifty day simple moving average is $57.71 and its two-hundred day simple moving average is $56.78. The company has a market cap of $103.11 billion, a price-to-earnings ratio of -11.46, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. 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 has a 52 week low of $39.35 and a 52 week high of $63.33.
Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its 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 negative net margin of 18.53% and a positive return on equity of 13.93%. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.
Bristol-Myers Squibb Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.89%. Bristol-Myers Squibb's dividend payout ratio is currently -56.11%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on BMY shares. Citigroup boosted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Cantor Fitzgerald upped their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a "hold" rating to a "buy" rating and lifted their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Wells Fargo & Company upped their target price on shares of 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. Finally, Truist Financial lifted their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Bristol-Myers Squibb has an average rating of "Hold" and a consensus target price of $57.67.
Check Out Our Latest Analysis on BMY
About Bristol-Myers Squibb
(
Free Report)
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.
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