Partnership Wealth Management LLC Buys 1,658 Shares of Bristol-Myers Squibb (NYSE:BMY)

Partnership Wealth Management LLC boosted its stake in Bristol-Myers Squibb (NYSE:BMY) by 6.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,867 shares of the biopharmaceutical company’s stock after purchasing an additional 1,658 shares during the quarter. Bristol-Myers Squibb comprises about 1.3% of Partnership Wealth Management LLC’s investment portfolio, making the stock its 17th largest holding. Partnership Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $1,576,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in BMY. Reston Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $25,000. Hollencrest Capital Management grew its holdings in Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares during the period. Kennebec Savings Bank bought a new stake in Bristol-Myers Squibb in the third quarter valued at approximately $28,000. Darwin Wealth Management LLC acquired a new stake in Bristol-Myers Squibb in the third quarter worth $29,000. Finally, Valued Wealth Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 549 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction 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 purchase, the executive vice president now directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

BMY traded down $0.39 during trading hours on Wednesday, reaching $56.75. The company’s stock had a trading volume of 11,043,603 shares, compared to its average volume of 9,988,576. 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’s 50-day moving average is $57.31 and its 200-day moving average is $51.26. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The firm has a market cap of $115.10 billion, a PE ratio of -15.81, a price-to-earnings-growth ratio of 15.20 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The business 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%. Bristol-Myers Squibb’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.00 EPS. On average, equities analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be issued a dividend of $0.62 per share. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -69.08%.

Analyst Ratings Changes

Several analysts recently commented on BMY shares. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price objective for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Wolfe Research started coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Bank of America reiterated a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Finally, UBS Group upped their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.27.

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.