MML Investors Services LLC Buys 48,340 Shares of Bristol-Myers Squibb (NYSE:BMY)

MML Investors Services LLC lifted its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 15.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 362,028 shares of the biopharmaceutical company's stock after purchasing an additional 48,340 shares during the quarter. MML Investors Services LLC's holdings in Bristol-Myers Squibb were worth $20,476,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BMY. Truist Financial Corp raised 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 acquiring an additional 60,365 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $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 purchasing an additional 29,044 shares during the last quarter. Versant Capital Management Inc grew its stake in Bristol-Myers Squibb by 14.0% in the 4th quarter. Versant Capital Management Inc now owns 78,690 shares of the biopharmaceutical company's stock worth $4,451,000 after buying an additional 9,692 shares in the last quarter. Finally, Decker Retirement Planning Inc. bought a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $474,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BMY. William Blair reiterated a "market perform" rating on shares of Bristol-Myers Squibb in a research report on Friday. Piper Sandler initiated coverage on Bristol-Myers Squibb in a research report on Tuesday. They set an "overweight" rating and a $65.00 price objective on the stock. Citigroup boosted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Truist Financial increased 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. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $55.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb presently has an average rating of "Hold" and a consensus target price of $58.00.

Bristol-Myers Squibb Trading Down 1.7 %

BMY traded down $0.83 during midday trading on Friday, reaching $47.86. 16,292,011 shares of the company's stock traded hands, compared to its average volume of 12,961,714. The stock has a market capitalization of $97.38 billion, a price-to-earnings ratio of -10.83, a P/E/G ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The firm has a fifty day moving average of $56.37 and a two-hundred day moving average of $56.47. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.25. The company had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. During the same quarter last year, the firm posted ($4.40) earnings per share. On average, equities analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 5.18%. Bristol-Myers Squibb's payout ratio is 92.88%.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the company's stock in a transaction dated Friday, February 14th. The shares were purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company's stock.

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.