Petros Family Wealth LLC Makes New $540,000 Investment in Bristol-Myers Squibb (NYSE:BMY)

Petros Family Wealth LLC purchased a new stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,555 shares of the biopharmaceutical company's stock, valued at approximately $540,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BMY. Norges Bank bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $1,989,525,000. Wellington Management Group LLP lifted its position in Bristol-Myers Squibb by 3,880.0% during the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock valued at $338,088,000 after purchasing an additional 5,827,317 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Bristol-Myers Squibb during the fourth quarter valued at about $257,618,000. Schroder Investment Management Group increased its position in Bristol-Myers Squibb by 49.7% in the fourth quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company's stock worth $639,837,000 after buying an additional 3,787,075 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of 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 worth $1,398,948,000 after buying an additional 1,482,410 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BMY. Wells Fargo & Company increased their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. 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 research note on Tuesday, April 8th. Truist Financial lifted their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Citigroup increased their price target on 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, Cantor Fitzgerald boosted their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $57.67.

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Insider Activity

In other news, EVP Samit Hirawat purchased 1,823 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock traded down $1.36 during trading hours on Tuesday, reaching $49.98. The company's stock had a trading volume of 15,675,831 shares, compared to its average volume of 12,947,328. The firm has a 50 day moving average price of $57.54 and a 200-day moving average price of $56.78. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The stock has a market cap of $101.70 billion, a P/E ratio of -11.31, a P/E/G ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share 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, analysts predict 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. Shareholders of record on Friday, April 4th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is -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.