Concord Wealth Partners Acquires 11,880 Shares of Bristol-Myers Squibb (NYSE:BMY)

Concord Wealth Partners raised its stake in Bristol-Myers Squibb (NYSE:BMY) by 229.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,063 shares of the biopharmaceutical company’s stock after acquiring an additional 11,880 shares during the period. Concord Wealth Partners’ holdings in Bristol-Myers Squibb were worth $965,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BMY. Inspire Trust Co. N.A. boosted its position in shares of Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after buying an additional 29,044 shares during the period. Contravisory Investment Management Inc. acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $488,000. Patriot Financial Group Insurance Agency LLC grew its position in Bristol-Myers Squibb by 3.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after purchasing an additional 206 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in Bristol-Myers Squibb by 34.3% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock worth $2,305,000 after buying an additional 11,387 shares in the last quarter. Finally, iA Global Asset Management Inc. grew its holdings in shares of Bristol-Myers Squibb by 81.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after acquiring an additional 34,418 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BMY shares. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Morgan Stanley increased their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price objective for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Finally, Citigroup raised their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $56.60.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $58.86 on Friday. The company’s 50 day simple moving average is $57.60 and its 200 day simple moving average is $53.19. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.10. The stock has a market capitalization of $119.38 billion, a price-to-earnings ratio of -16.40, a price-to-earnings-growth ratio of 2.10 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The company had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter last year, the company posted $2.00 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts predict that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be issued a $0.62 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.21%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is -69.08%.

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.