Heritage Trust Co Makes New $1.21 Million Investment in Bristol-Myers Squibb (NYSE:BMY)

Heritage Trust Co acquired a new position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 21,454 shares of the biopharmaceutical company's stock, valued at approximately $1,213,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Bristol-Myers Squibb by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company's stock worth $10,743,262,000 after acquiring an additional 1,373,209 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Bristol-Myers Squibb by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company's stock worth $2,505,967,000 after purchasing an additional 1,187,231 shares in the last quarter. Norges Bank purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $1,989,525,000. Bank of New York Mellon Corp boosted its position in shares of Bristol-Myers Squibb by 6.4% in the 4th 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 purchasing an additional 1,482,410 shares during the period. Finally, Invesco Ltd. grew its stake in Bristol-Myers Squibb by 1.5% during the 4th quarter. Invesco Ltd. now owns 16,437,390 shares of the biopharmaceutical company's stock worth $929,699,000 after buying an additional 242,186 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Remove Ads

Analysts Set New Price Targets

Several research firms have recently weighed in on BMY. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price objective (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a "hold" rating to a "buy" rating and increased their price target for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Wells Fargo & Company lifted their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Citigroup increased their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Finally, UBS Group dropped their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $57.67.

Bristol-Myers Squibb Price Performance

BMY traded down $1.36 on Tuesday, hitting $49.98. 15,675,831 shares of the company were exchanged, compared to its average volume of 12,947,328. The business's fifty day moving average is $57.54 and its 200 day moving average is $56.78. The firm has a market capitalization of $101.70 billion, a P/E ratio of -11.31, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. 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 has a fifty-two week low of $39.35 and a fifty-two week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping analysts' consensus estimates 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%. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm 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 $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 4.96%. Bristol-Myers Squibb's dividend payout ratio is presently -56.11%.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,823 shares of the firm's stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate 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.