Summit Securities Group LLC Acquires 49,200 Shares of Bristol-Myers Squibb (NYSE:BMY)

Summit Securities Group LLC raised its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 1,968.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,700 shares of the biopharmaceutical company's stock after purchasing an additional 49,200 shares during the quarter. Bristol-Myers Squibb accounts for about 0.6% of Summit Securities Group LLC's holdings, making the stock its 23rd biggest holding. Summit Securities Group LLC's holdings in Bristol-Myers Squibb were worth $2,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of BMY. United Bank boosted its stake in Bristol-Myers Squibb by 2.7% in the third quarter. United Bank now owns 17,322 shares of the biopharmaceutical company's stock worth $896,000 after buying an additional 456 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Bristol-Myers Squibb by 13.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 88,350 shares of the biopharmaceutical company's stock worth $4,571,000 after acquiring an additional 10,400 shares during the last quarter. Northwest & Ethical Investments L.P. boosted its stake in shares of Bristol-Myers Squibb by 21.1% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 16,168 shares of the biopharmaceutical company's stock valued at $837,000 after purchasing an additional 2,820 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Bristol-Myers Squibb by 13.4% during the 3rd quarter. Captrust Financial Advisors now owns 468,106 shares of the biopharmaceutical company's stock valued at $24,220,000 after purchasing an additional 55,134 shares during the last quarter. Finally, Fred Alger Management LLC raised its position in Bristol-Myers Squibb by 146.5% in the 3rd quarter. Fred Alger Management LLC now owns 102,293 shares of the biopharmaceutical company's stock worth $5,293,000 after purchasing an additional 60,797 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Jefferies Financial Group raised Bristol-Myers Squibb from a "hold" rating to a "buy" rating and raised their price objective for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Citigroup raised their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Truist Financial lifted their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Wells Fargo & Company increased their price objective on 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. Finally, Cantor Fitzgerald lifted their target price 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. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb has a consensus rating of "Hold" and a consensus target price of $57.86.

Bristol-Myers Squibb Stock Down 0.8 %

BMY traded down $0.45 on Thursday, hitting $59.15. The company had a trading volume of 5,107,868 shares, compared to its average volume of 11,490,944. The stock has a fifty day simple moving average of $58.74 and a 200-day simple moving average of $56.54. 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 firm has a market capitalization of $120.36 billion, a P/E ratio of -13.38, a P/E/G ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results 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 positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, equities analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

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 issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.19%. Bristol-Myers Squibb's payout ratio is currently -56.11%.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,823 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the acquisition, the executive vice president now owns 63,932 shares of the company's stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company's stock.

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.