7,816 Shares in Bristol-Myers Squibb (NYSE:BMY) Acquired by Palacios Wealth Management LLC

Palacios Wealth Management LLC bought a new position in Bristol-Myers Squibb (NYSE:BMY) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 7,816 shares of the biopharmaceutical company’s stock, valued at approximately $440,000.

A number of other institutional investors also recently bought and sold shares of the stock. AMF Tjanstepension AB lifted its stake in Bristol-Myers Squibb by 6.9% during the 3rd quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock valued at $31,618,000 after acquiring an additional 39,419 shares during the period. Exchange Traded Concepts LLC lifted its stake in Bristol-Myers Squibb by 18.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 26,468 shares of the biopharmaceutical company’s stock valued at $1,369,000 after acquiring an additional 4,064 shares during the period. Swedbank AB lifted its stake in Bristol-Myers Squibb by 0.9% during the 3rd quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock valued at $162,440,000 after acquiring an additional 28,427 shares during the period. SeaCrest Wealth Management LLC lifted its stake in Bristol-Myers Squibb by 35.7% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 21,174 shares of the biopharmaceutical company’s stock valued at $1,096,000 after acquiring an additional 5,576 shares during the period. Finally, Sumitomo Life Insurance Co. lifted its stake in Bristol-Myers Squibb by 2.8% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 22,850 shares of the biopharmaceutical company’s stock valued at $1,182,000 after acquiring an additional 614 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $55.93 on Friday. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.10. The firm has a market capitalization of $113.44 billion, a price-to-earnings ratio of -12.65, a PEG ratio of 2.13 and a beta of 0.45. The company has a fifty day simple moving average of $57.38 and a 200-day simple moving average of $54.02. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.81%. On average, equities analysts anticipate that Bristol-Myers Squibb will post 6.75 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders 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. The ex-dividend date was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.43%. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BMY. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Morgan Stanley boosted their target price 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. Citigroup boosted their target price 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. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald boosted their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $57.86.

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.