Ritholtz Wealth Management Increases Position in Bristol-Myers Squibb (NYSE:BMY)

Ritholtz Wealth Management increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 65.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,389 shares of the biopharmaceutical company's stock after acquiring an additional 15,546 shares during the quarter. Ritholtz Wealth Management's holdings in Bristol-Myers Squibb were worth $2,228,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research firms have recently commented on BMY. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a "market perform" rating and a $56.00 price target on the stock. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 13th. Morgan Stanley increased their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an "underweight" rating in a report on Tuesday, November 12th. Truist Financial boosted 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, Jefferies Financial Group raised shares of Bristol-Myers Squibb from a "hold" rating to a "buy" rating and increased their target price for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of "Hold" and a consensus target price of $56.27.

Insider Transactions at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on 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 directly owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 5.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of the firm's stock in a transaction on Friday, November 1st. The stock was bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares of the company's stock, valued at $3,395,499.03. This represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Stock Down 0.0 %

BMY stock traded down $0.03 during mid-day trading on Friday, reaching $56.35. The company had a trading volume of 10,909,530 shares, compared to its average volume of 10,195,547. The firm has a fifty day simple moving average of $57.53 and a 200 day simple moving average of $51.92. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The company has a market capitalization of $114.30 billion, a price-to-earnings ratio of -15.70, a price-to-earnings-growth ratio of 1.95 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 $61.08.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results 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. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion for the quarter, compared to analysts' expectations of $11.26 billion. During the same quarter last year, the company earned $2.00 earnings per share. The firm's revenue was up 8.4% compared to the same quarter last year. Analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

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

Bristol-Myers Squibb Company 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.