GDS Wealth Management Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

GDS Wealth Management bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,638 shares of the biopharmaceutical company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Reston Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $25,000. Hollencrest Capital Management increased its holdings in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares during the last quarter. Kennebec Savings Bank bought a new position in Bristol-Myers Squibb during the 3rd quarter valued at $28,000. Darwin Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth about $29,000. Finally, Valued Wealth Advisors LLC raised its stake 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 purchasing an additional 549 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Down 1.3 %

NYSE BMY opened at $59.15 on Wednesday. The company has a market capitalization of $119.97 billion, a P/E ratio of -16.48, a PEG ratio of 2.10 and a beta of 0.45. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The company’s 50 day simple moving average is $57.63 and its 200 day simple moving average is $53.47.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.19%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is presently -69.08%.

Analysts Set New Price Targets

BMY has been the subject of several research reports. Cantor Fitzgerald lifted their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Jefferies Financial Group raised 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 report on Monday, December 16th. Truist Financial upped their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Bank of America reiterated a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $56.93.

About Bristol-Myers Squibb

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.