Howe & Rusling Inc. Raises Position in Bristol-Myers Squibb (NYSE:BMY)

Howe & Rusling Inc. raised its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,128 shares of the biopharmaceutical company’s stock after purchasing an additional 467 shares during the period. Howe & Rusling Inc.’s holdings in Bristol-Myers Squibb were worth $460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. United Bank raised its stake in Bristol-Myers Squibb by 2.7% in the 3rd quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock valued at $896,000 after acquiring an additional 456 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of Bristol-Myers Squibb in the third quarter worth about $133,000. The Manufacturers Life Insurance Company raised its position in shares of Bristol-Myers Squibb by 1.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,711,074 shares of the biopharmaceutical company’s stock valued at $88,531,000 after purchasing an additional 29,480 shares during the period. Townsquare Capital LLC lifted its stake in shares of Bristol-Myers Squibb by 20.4% during the 3rd quarter. Townsquare Capital LLC now owns 149,694 shares of the biopharmaceutical company’s stock valued at $7,745,000 after buying an additional 25,324 shares in the last quarter. Finally, Bridgewater Associates LP grew its stake in Bristol-Myers Squibb by 10.0% in the 3rd quarter. Bridgewater Associates LP now owns 610,358 shares of the biopharmaceutical company’s stock valued at $31,580,000 after buying an additional 55,364 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BMY shares. Jefferies Financial Group upgraded 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 raised their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Citigroup upped their target price 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. Bank of America reissued a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Finally, Cantor Fitzgerald increased their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Trading Down 0.5 %

BMY stock opened at $58.90 on Friday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The company has a market capitalization of $119.52 billion, a PE ratio of -13.33, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company’s 50 day moving average price is $58.47 and its two-hundred day moving average price is $56.17. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping 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%. As a group, analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.21%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -56.11%.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,823 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.09% of the company’s stock.

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.