Weaver C. Barksdale & Associates Inc. Grows Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Weaver C. Barksdale & Associates Inc. grew its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 35.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,501 shares of the biopharmaceutical company’s stock after purchasing an additional 6,921 shares during the period. Weaver C. Barksdale & Associates Inc.’s holdings in Bristol-Myers Squibb were worth $1,500,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. United Bank grew its stake in Bristol-Myers Squibb by 2.7% during the 3rd quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock valued at $896,000 after purchasing an additional 456 shares in the last quarter. Eagle Asset Management Inc. acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth approximately $2,961,000. Larson Financial Group LLC increased its stake in shares of Bristol-Myers Squibb by 76.3% in the third quarter. Larson Financial Group LLC now owns 15,461 shares of the biopharmaceutical company’s stock worth $800,000 after buying an additional 6,690 shares during the last quarter. Centaurus Financial Inc. raised its holdings in Bristol-Myers Squibb by 21.3% in the third quarter. Centaurus Financial Inc. now owns 10,919 shares of the biopharmaceutical company’s stock valued at $565,000 after acquiring an additional 1,920 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Bristol-Myers Squibb during the 3rd quarter valued at $133,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was acquired 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 directly owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Stock Down 3.0 %

BMY opened at $59.22 on Wednesday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The stock’s 50 day moving average price is $58.36 and its 200 day moving average price is $56.13. The stock has a market cap of $120.18 billion, a P/E ratio of -13.40, a P/E/G ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. As a group, research analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.19%. Bristol-Myers Squibb’s payout ratio is -56.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of 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. Truist Financial increased their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Citigroup upped their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Cantor Fitzgerald lifted their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. 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 report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $57.86.

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.