Mystic Asset Management Inc. Grows Position in Bristol-Myers Squibb (NYSE:BMY)

Mystic Asset Management Inc. increased its position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 62.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,958 shares of the biopharmaceutical company's stock after purchasing an additional 9,206 shares during the period. Mystic Asset Management Inc.'s holdings in Bristol-Myers Squibb were worth $1,355,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BMY. Fairway Wealth LLC purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $28,000. Darwin Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth about $29,000. Dunhill Financial LLC boosted its stake in shares of Bristol-Myers Squibb by 39.8% during the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 189 shares during the period. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $34,000. Finally, Westend Capital Management LLC purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $38,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on BMY. Cantor Fitzgerald lifted 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 note on Tuesday, February 4th. Bank of America reiterated a "neutral" rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. 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 report on Friday, February 7th. Truist Financial lifted their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Finally, Citigroup lifted their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $57.86.

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Insider Buying and Selling

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

Bristol-Myers Squibb Stock Up 1.1 %

Shares of NYSE BMY traded up $0.64 during trading hours on Friday, hitting $61.06. 25,864,960 shares of the stock were exchanged, compared to its average volume of 12,180,118. 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 company has a market cap of $123.92 billion, a PE ratio of -13.82, a PEG ratio of 2.07 and a beta of 0.43. The firm has a fifty day moving average price of $58.17 and a 200-day moving average price of $55.89. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 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%. On average, sell-side analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 4.06%. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently -56.11%.

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.