Sierra Summit Advisors LLC Invests $992,000 in Bristol-Myers Squibb (NYSE:BMY)

Sierra Summit Advisors LLC bought a new stake in Bristol-Myers Squibb (NYSE:BMY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,541 shares of the biopharmaceutical company’s stock, valued at approximately $992,000.

A number of other institutional investors have also bought and sold shares of the company. Federated Hermes Inc. lifted its stake in shares of Bristol-Myers Squibb by 6.8% in the 4th quarter. Federated Hermes Inc. now owns 8,933,844 shares of the biopharmaceutical company’s stock valued at $505,298,000 after purchasing an additional 571,107 shares during the period. Waterloo Capital L.P. lifted its stake in Bristol-Myers Squibb by 672.2% in the fourth quarter. Waterloo Capital L.P. now owns 30,571 shares of the biopharmaceutical company’s stock valued at $1,729,000 after buying an additional 26,612 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Bristol-Myers Squibb by 9.3% during the 4th quarter. Quadrant Capital Group LLC now owns 12,916 shares of the biopharmaceutical company’s stock worth $731,000 after buying an additional 1,096 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co lifted its position in shares of Bristol-Myers Squibb by 106.7% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 352,500 shares of the biopharmaceutical company’s stock valued at $19,937,000 after acquiring an additional 182,000 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Bristol-Myers Squibb by 33.3% during the fourth quarter. Russell Investments Group Ltd. now owns 2,860,651 shares of the biopharmaceutical company’s stock worth $161,694,000 after acquiring an additional 714,693 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on BMY. Citigroup lifted their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Cantor Fitzgerald upped their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Bank of America reissued a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Wells Fargo & Company upped their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price target for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $57.86.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,823 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were 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 directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $55.32 on Monday. The stock has a market cap of $112.56 billion, a P/E ratio of -12.52, a P/E/G ratio of 2.07 and a beta of 0.41. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The company’s 50 day moving average price is $58.62 and its two-hundred day moving average price is $56.68. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data 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 positive return on equity of 13.93% and a negative net margin of 18.53%. On average, equities analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be paid 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 dividend yield of 4.48%. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

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.