Arkadios Wealth Advisors Increases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Arkadios Wealth Advisors grew its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 9.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 151,419 shares of the biopharmaceutical company's stock after acquiring an additional 12,992 shares during the quarter. Arkadios Wealth Advisors' holdings in Bristol-Myers Squibb were worth $8,564,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Seven Eight Capital LP purchased a new stake in shares of Bristol-Myers Squibb during the 2nd quarter valued at $392,000. MQS Management LLC acquired a new position in Bristol-Myers Squibb during the 2nd quarter valued at about $408,000. Cowa LLC raised its stake in Bristol-Myers Squibb by 5.9% in the second quarter. Cowa LLC now owns 9,905 shares of the biopharmaceutical company's stock valued at $411,000 after buying an additional 550 shares during the last quarter. Wealth Advisors of Tampa Bay LLC boosted its holdings in Bristol-Myers Squibb by 6.3% in the second quarter. Wealth Advisors of Tampa Bay LLC now owns 71,762 shares of the biopharmaceutical company's stock worth $2,980,000 after acquiring an additional 4,280 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Bristol-Myers Squibb by 6.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 94,911 shares of the biopharmaceutical company's stock valued at $3,941,000 after acquiring an additional 5,382 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now owns 62,109 shares of the company's stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the senior vice president now owns 11,760 shares of the company's stock, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Price Performance

NYSE BMY traded down $0.03 during trading hours on Friday, reaching $56.35. The company's stock had a trading volume of 10,909,530 shares, compared to its average volume of 10,195,547. The firm has a market capitalization of $114.30 billion, a price-to-earnings ratio of -15.70, a P/E/G ratio of 1.95 and a beta of 0.45. The company's 50-day moving average is $57.53 and its two-hundred day moving average is $52.00. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08.

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

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.40%. This is a boost from Bristol-Myers Squibb's previous quarterly dividend of $0.60. Bristol-Myers Squibb's payout ratio is currently -69.08%.

Analysts Set New Price Targets

BMY has been the topic of several research analyst reports. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 13th. BMO Capital Markets boosted their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a "market perform" rating in a report on Tuesday, November 12th. Citigroup raised their target price on Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a "market perform" rating and a $56.00 price target on the stock. Finally, Truist Financial raised their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of "Hold" and an average target price of $56.27.

About Bristol-Myers Squibb

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.