Park Avenue Securities LLC Purchases 13,952 Shares of Bristol-Myers Squibb (NYSE:BMY)

Park Avenue Securities LLC grew its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 32.6% in the 4th quarter, HoldingsChannel reports. The fund owned 56,806 shares of the biopharmaceutical company’s stock after buying an additional 13,952 shares during the period. Park Avenue Securities LLC’s holdings in Bristol-Myers Squibb were worth $3,213,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BMY. E Fund Management Co. Ltd. raised its holdings in shares of Bristol-Myers Squibb by 13.2% in the 2nd quarter. E Fund Management Co. Ltd. now owns 7,190 shares of the biopharmaceutical company’s stock worth $299,000 after acquiring an additional 840 shares during the last quarter. Seven Eight Capital LP bought a new stake in Bristol-Myers Squibb during the 2nd quarter worth approximately $392,000. Altrius Capital Management Inc raised its stake in shares of Bristol-Myers Squibb by 26.1% in the second quarter. Altrius Capital Management Inc now owns 97,042 shares of the biopharmaceutical company’s stock worth $4,030,000 after purchasing an additional 20,100 shares during the last quarter. Miramar Capital LLC lifted its holdings in shares of Bristol-Myers Squibb by 41.4% in the second quarter. Miramar Capital LLC now owns 8,876 shares of the biopharmaceutical company’s stock valued at $369,000 after purchasing an additional 2,600 shares in the last quarter. Finally, XTX Topco Ltd boosted its position in shares of Bristol-Myers Squibb by 400.3% during the second quarter. XTX Topco Ltd now owns 91,465 shares of the biopharmaceutical company’s stock valued at $3,799,000 after buying an additional 73,183 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Samit Hirawat acquired 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $56.39 on Friday. The firm has a market capitalization of $114.37 billion, a PE ratio of -15.71, a P/E/G ratio of 1.95 and a beta of 0.45. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The company has a 50-day moving average price of $57.45 and a two-hundred day moving average price of $51.79. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.00 EPS. Equities analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date is Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -69.08%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BMY. Truist Financial raised 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. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Barclays upped their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their target price for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Finally, Citigroup upped their target price on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $56.27.

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.