Journey Strategic Wealth LLC Buys 650 Shares of Bristol-Myers Squibb (NYSE:BMY)

Journey Strategic Wealth LLC grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 10.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,157 shares of the biopharmaceutical company’s stock after acquiring an additional 650 shares during the period. Journey Strategic Wealth LLC’s holdings in Bristol-Myers Squibb were worth $405,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Citigroup raised their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. TD Cowen lifted their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Barclays lifted their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, BMO Capital Markets raised their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $56.60.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $58.86 on Monday. The business’s 50-day moving average price is $57.60 and its 200-day moving average price is $53.27. The firm has a market capitalization of $119.38 billion, a PE ratio of -16.40, a price-to-earnings-growth 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 current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $11.26 billion. During the same period in the previous year, the business posted $2.00 EPS. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Sell-side analysts forecast that Bristol-Myers Squibb will post 0.92 EPS 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 given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.21%. This is a positive change 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 dividend payout ratio is presently -69.08%.

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.