M.E. Allison & CO. Inc. Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

M.E. Allison & CO. Inc. purchased a new position in Bristol-Myers Squibb (NYSE:BMY - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 7,410 shares of the biopharmaceutical company's stock, valued at approximately $419,000.

Several other institutional investors and hedge funds have also made changes to their positions in BMY. Inspire Trust Co. N.A. grew its holdings in Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company's stock worth $5,355,000 after acquiring an additional 29,044 shares during the period. Contravisory Investment Management Inc. acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $488,000. Patriot Financial Group Insurance Agency LLC lifted its stake in Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company's stock valued at $289,000 after purchasing an additional 206 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in Bristol-Myers Squibb by 34.3% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company's stock worth $2,305,000 after buying an additional 11,387 shares in the last quarter. Finally, iA Global Asset Management Inc. grew its position in Bristol-Myers Squibb by 81.3% in the third quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company's stock worth $3,972,000 after buying an additional 34,418 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Samit Hirawat bought 1,830 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now directly owns 62,109 shares of the company's stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the company's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares of the company's stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of recent research reports. Truist Financial increased their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Leerink Partnrs raised Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 12th. Barclays lifted their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Finally, Morgan Stanley lifted their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an "underweight" rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $56.27.

Bristol-Myers Squibb Stock Down 0.0 %

Shares of BMY traded down $0.03 during midday trading on Monday, reaching $56.35. 10,909,530 shares of the stock were exchanged, compared to its average volume of 10,195,547. The company has a market cap of $114.30 billion, a price-to-earnings ratio of -15.70, a P/E/G ratio of 1.95 and a beta of 0.45. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The firm has a 50 day simple moving average of $57.53 and a 200-day simple moving average of $52.09.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.00 earnings per share. Research analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This is a boost from Bristol-Myers Squibb's previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.40%. Bristol-Myers Squibb's dividend payout ratio is currently -69.08%.

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.