Colrain Capital LLC Takes $6.87 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Colrain Capital LLC acquired a new stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 121,500 shares of the biopharmaceutical company's stock, valued at approximately $6,872,000. Bristol-Myers Squibb comprises approximately 6.7% of Colrain Capital LLC's holdings, making the stock its 5th largest position.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Bristol-Myers Squibb by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company's stock worth $10,743,262,000 after purchasing an additional 1,373,209 shares during the last quarter. State Street Corp boosted its holdings in shares of Bristol-Myers Squibb by 1.6% in the 3rd quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company's stock valued at $4,806,469,000 after buying an additional 1,451,214 shares during the period. Geode Capital Management LLC raised its stake in Bristol-Myers Squibb by 2.5% during the third quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company's stock worth $2,228,425,000 after acquiring an additional 1,036,495 shares during the period. Norges Bank bought a new position in Bristol-Myers Squibb in the fourth quarter worth about $1,989,525,000. Finally, Bank of New York Mellon Corp boosted its stake in Bristol-Myers Squibb by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 24,733,868 shares of the biopharmaceutical company's stock valued at $1,398,948,000 after acquiring an additional 1,482,410 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction on 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 completion of the purchase, the executive vice president now directly owns 63,932 shares of the company's stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Trading Down 2.8 %

Shares of BMY stock traded down $1.58 during trading hours on Friday, reaching $55.62. 5,937,446 shares of the stock traded hands, compared to its average volume of 12,722,232. The business has a fifty day moving average price of $58.71 and a 200 day moving average price of $56.55. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $113.17 billion, a PE ratio of -12.59, a PEG ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping 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, equities research analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.46%. Bristol-Myers Squibb's payout ratio is -56.11%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BMY shares. Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a "hold" rating to a "buy" rating and increased their price objective for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Citigroup raised their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Truist Financial increased their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Finally, Cantor Fitzgerald lifted their target price on 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 investment analysts have rated the stock with a sell rating, ten 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.com, the stock presently has an average rating of "Hold" and an average price target of $57.86.

Bristol-Myers Squibb Company 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.