Asset Dedication LLC Increases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Asset Dedication LLC grew its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 124.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,487 shares of the biopharmaceutical company's stock after buying an additional 8,041 shares during the period. Asset Dedication LLC's holdings in Bristol-Myers Squibb were worth $819,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BMY. Reston Wealth Management LLC acquired a new position in Bristol-Myers Squibb in the 3rd quarter worth $25,000. Hollencrest Capital Management boosted its stake in Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 187 shares during the period. Kennebec Savings Bank acquired a new position in Bristol-Myers Squibb in the 3rd quarter worth $28,000. Darwin Wealth Management LLC acquired a new position in Bristol-Myers Squibb in the 3rd quarter worth $29,000. Finally, Valued Wealth Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company's stock worth $31,000 after buying an additional 549 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol-Myers Squibb Trading Up 0.1 %

BMY traded up $0.06 during trading on Thursday, reaching $59.11. 8,127,077 shares of the company's stock were exchanged, compared to its average volume of 9,647,263. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.10. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The stock has a market capitalization of $119.88 billion, a PE ratio of -16.46, a price-to-earnings-growth ratio of 2.02 and a beta of 0.45. The firm has a fifty day moving average price of $57.59 and a two-hundred day moving average price of $53.02.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same period in the previous year, the firm posted $2.00 EPS. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be paid a $0.62 dividend. This is a positive change 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 4.20%. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb's dividend payout ratio is currently -69.08%.

Insider Activity

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the company's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following 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 SEC, which is accessible through this hyperlink. Also, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction on Friday, November 1st. The shares were acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares of the company's stock, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on BMY shares. Cantor Fitzgerald restated a "neutral" rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Morgan Stanley upped their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an "underweight" rating in a report on Tuesday, November 12th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a "hold" rating to a "buy" rating and boosted their price target for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Leerink Partners raised Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. Finally, Bank of America reaffirmed a "neutral" rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $56.60.

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.