First Horizon Advisors Inc. Raises Stock Position in Bristol-Myers Squibb (NYSE:BMY)

First Horizon Advisors Inc. lifted its holdings in Bristol-Myers Squibb (NYSE:BMY) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 406,458 shares of the biopharmaceutical company’s stock after buying an additional 11,072 shares during the period. First Horizon Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $22,989,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth about $25,000. Hollencrest Capital Management grew its holdings in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares during the last quarter. Kennebec Savings Bank bought a new position in Bristol-Myers Squibb during the 3rd quarter valued at about $28,000. Darwin Wealth Management LLC bought a new position in Bristol-Myers Squibb during the 3rd quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC grew its holdings in Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 549 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BMY has been the topic of several analyst reports. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Wolfe Research started coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Bank of America restated a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Wells Fargo & Company upped their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, Truist Financial upped their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $57.86.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $55.85 on Friday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. The company has a 50 day moving average price of $56.99 and a 200-day moving average price of $54.35. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The stock has a market capitalization of $113.33 billion, a PE ratio of -12.63, a PEG ratio of 2.07 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating 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 13.93%. Equities analysts predict 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 given a dividend of $0.62 per share. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.44%. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

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.