PCG Asset Management LLC Buys New Stake in Bristol-Myers Squibb (NYSE:BMY)

PCG Asset Management LLC purchased a new stake in Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,250 shares of the biopharmaceutical company’s stock, valued at approximately $297,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Reston Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the third quarter valued at about $25,000. Hollencrest Capital Management boosted its holdings in Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the period. Kennebec Savings Bank acquired a new stake in Bristol-Myers Squibb in the third quarter valued at approximately $28,000. Darwin Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $29,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $34,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Up 1.5 %

BMY stock opened at $59.71 on Friday. The firm’s 50-day moving average is $57.15 and its two-hundred day moving average is $54.74. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The company has a market capitalization of $121.17 billion, a price-to-earnings ratio of -13.51, a price-to-earnings-growth ratio of 2.07 and a beta of 0.45. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were issued a dividend of $0.62 per share. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend was Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They set a “peer perform” rating for the company. Wells Fargo & Company raised their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. 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. Finally, Morgan Stanley upped their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $57.86.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the stock in a transaction dated Friday, February 14th. The shares were bought at an average price of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by company insiders.

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.