Good Life Advisors LLC Boosts Position in Bristol-Myers Squibb (NYSE:BMY)

Good Life Advisors LLC raised its holdings in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 106.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,721 shares of the biopharmaceutical company's stock after purchasing an additional 34,459 shares during the quarter. Good Life Advisors LLC's holdings in Bristol-Myers Squibb were worth $3,774,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Edmp Inc. raised its position in Bristol-Myers Squibb by 0.4% in the fourth quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company's stock valued at $2,353,000 after purchasing an additional 171 shares during the period. Trust Point Inc. raised its position in Bristol-Myers Squibb by 1.9% in the fourth quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company's stock valued at $533,000 after purchasing an additional 172 shares during the period. Horst & Graben Wealth Management LLC raised its position in Bristol-Myers Squibb by 2.4% in the fourth quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company's stock valued at $426,000 after purchasing an additional 179 shares during the period. Meridian Management Co. raised its position in Bristol-Myers Squibb by 0.6% in the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company's stock valued at $1,463,000 after purchasing an additional 182 shares during the period. Finally, Drive Wealth Management LLC raised its position in Bristol-Myers Squibb by 2.1% in the fourth quarter. Drive Wealth Management LLC now owns 8,878 shares of the biopharmaceutical company's stock valued at $502,000 after purchasing an additional 182 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an "underweight" rating in a report on Tuesday, November 12th. Wolfe Research assumed coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They issued a "peer perform" rating on the stock. Truist Financial boosted their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Daiwa America upgraded Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a report on Wednesday, November 13th. Finally, Citigroup boosted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $57.86.

Insiders Place Their Bets

In other news, EVP Samit Hirawat purchased 1,823 shares of the firm's stock in a transaction on Friday, February 14th. The shares were bought at an average cost of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares of the company's stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Price Performance

NYSE BMY traded up $0.06 during trading hours on Friday, reaching $55.85. The company's stock had a trading volume of 11,100,311 shares, compared to its average volume of 10,886,042. The stock has a market cap of $113.33 billion, a PE ratio of -12.63, a PEG ratio of 2.04 and a beta of 0.45. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. The company's 50-day moving average is $56.99 and its two-hundred day moving average is $54.30. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results 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 negative net margin of 18.53% and a positive return on equity of 13.93%. Analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.62 per share. This is a boost from Bristol-Myers Squibb's previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.44%. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently -56.11%.

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.