Bristol-Myers Squibb (NYSE:BMY) Holdings Lifted by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 19.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,260 shares of the biopharmaceutical company's stock after acquiring an additional 10,299 shares during the quarter. Summit Investment Advisors Inc.'s holdings in Bristol-Myers Squibb were worth $3,521,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Fairway Wealth LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $28,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $34,000. Westend Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $38,000. Tacita Capital Inc purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at $39,000. Finally, M Holdings Securities Inc. acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at $39,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Down 0.3 %

Shares of BMY traded down $0.13 during midday trading on Friday, reaching $49.24. 14,244,048 shares of the company were exchanged, compared to its average volume of 12,977,648. The stock has a 50-day moving average price of $56.98 and a 200-day moving average price of $56.64. The company has a market cap of $100.18 billion, a price-to-earnings ratio of -11.14, a P/E/G ratio of 2.07 and a beta of 0.41. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year 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 (EPS) for the quarter, beating 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%. Research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb's payout ratio is -56.11%.

Insider Buying and Selling

In other news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The stock was bought 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 $3,506,030.88. The trade was a 2.94 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.07% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BMY shares. Truist Financial boosted their target price 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. UBS Group dropped their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Wells Fargo & Company upped their price target on shares of 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. Finally, Cantor Fitzgerald raised their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $57.67.

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.