Waterfront Wealth Inc. Buys 812 Shares of Bristol-Myers Squibb (NYSE:BMY)

Waterfront Wealth Inc. lifted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 32,670 shares of the biopharmaceutical company’s stock after acquiring an additional 812 shares during the period. Waterfront Wealth Inc.’s holdings in Bristol-Myers Squibb were worth $1,848,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth about $25,000. Hollencrest Capital Management lifted its holdings in shares of 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 acquiring an additional 187 shares during the period. Kennebec Savings Bank bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth about $28,000. Darwin Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth about $29,000. Finally, Valued Wealth Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares during the period. 76.41% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Samit Hirawat acquired 1,823 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BMY shares. Jefferies Financial Group upgraded 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 research report on Monday, December 16th. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald increased their target price 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. BMO Capital Markets increased their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley increased their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Stock Up 1.5 %

Shares of NYSE BMY opened at $55.80 on Friday. The firm has a market capitalization of $113.23 billion, a PE ratio of -12.62, a price-to-earnings-growth ratio of 2.02 and a beta of 0.45. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.10. The firm’s 50-day moving average is $56.99 and its 200-day moving average is $54.24.

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

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.44%. The ex-dividend date was Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

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.