Centerpoint Advisory Group Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

Centerpoint Advisory Group purchased a new position in Bristol-Myers Squibb (NYSE:BMY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,027 shares of the biopharmaceutical company's stock, valued at approximately $284,000.

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

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded down $0.15 during mid-day trading on Wednesday, reaching $54.28. The stock had a trading volume of 3,729,925 shares, compared to its average volume of 10,714,064. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.10. The company has a market cap of $110.16 billion, a P/E ratio of -12.28, a price-to-earnings-growth ratio of 2.00 and a beta of 0.45. The business has a 50-day simple moving average of $57.04 and a 200 day simple moving average of $54.23. 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 (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were issued a dividend of $0.62 per share. The ex-dividend date was Friday, January 3rd. This is an increase from Bristol-Myers Squibb's previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.57%. Bristol-Myers Squibb's payout ratio is currently -56.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BMY shares. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a "hold" rating to a "buy" rating and raised their price target for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Cantor Fitzgerald raised 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. Citigroup raised their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Bank of America reissued a "neutral" rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Finally, Leerink Partnrs raised shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has an average rating of "Hold" and a consensus price target of $57.86.

Bristol-Myers Squibb Profile

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.