Commonwealth Financial Services LLC Acquires 904 Shares of Bristol-Myers Squibb (NYSE:BMY)

Commonwealth Financial Services LLC grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 15.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,909 shares of the biopharmaceutical company’s stock after purchasing an additional 904 shares during the period. Commonwealth Financial Services LLC’s holdings in Bristol-Myers Squibb were worth $391,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research firms have commented on BMY. Morgan Stanley raised their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. 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. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their target price for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Wolfe Research started coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They set a “peer perform” rating for the company. Finally, Citigroup raised their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $56.60.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $60.03 on Tuesday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10. The firm has a market cap of $121.76 billion, a PE ratio of -16.72, a price-to-earnings-growth ratio of 2.10 and a beta of 0.45. The firm’s fifty day moving average is $57.60 and its 200-day moving average is $53.34.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were paid a $0.62 dividend. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.13%. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

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.