National Wealth Management Group LLC Takes $255,000 Position in Bristol-Myers Squibb (NYSE:BMY)

National Wealth Management Group LLC purchased a new position in Bristol-Myers Squibb (NYSE:BMY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,512 shares of the biopharmaceutical company’s stock, valued at approximately $255,000.

A number of other hedge funds also recently bought and sold shares of BMY. Norges Bank purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $1,989,525,000. Wellington Management Group LLP increased its holdings in Bristol-Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock worth $338,088,000 after acquiring an additional 5,827,317 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $257,618,000. Schroder Investment Management Group lifted its holdings in Bristol-Myers Squibb by 49.7% during the fourth quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock valued at $639,837,000 after purchasing an additional 3,787,075 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Bristol-Myers Squibb by 695.1% in the third quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock valued at $183,971,000 after purchasing an additional 3,107,672 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $61.05 on Tuesday. The stock has a market cap of $124.22 billion, a price-to-earnings ratio of -13.81, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. 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 50 day simple moving average of $58.64 and a 200-day simple moving average of $56.44. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (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%. On average, analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,823 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average price of $54.84 per share, with a total value of $99,973.32. Following the transaction, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on BMY shares. Cantor Fitzgerald upped their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their target price for the company from $63.00 to $70.00 in a report on Monday, December 16th. Citigroup lifted their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Truist Financial increased their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company lifted their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $57.86.

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.