1ST Source Bank Purchases 572 Shares of Bristol-Myers Squibb (NYSE:BMY)

1ST Source Bank boosted its position in Bristol-Myers Squibb (NYSE:BMY) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,579 shares of the biopharmaceutical company’s stock after acquiring an additional 572 shares during the quarter. 1ST Source Bank’s holdings in Bristol-Myers Squibb were worth $1,730,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Swedbank AB grew its stake in shares of Bristol-Myers Squibb by 0.9% during the third quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock worth $162,440,000 after buying an additional 28,427 shares during the last quarter. Pettinga Financial Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 8.7% during the third quarter. Pettinga Financial Advisors LLC now owns 11,108 shares of the biopharmaceutical company’s stock worth $575,000 after buying an additional 886 shares during the last quarter. United Bank lifted its holdings in shares of Bristol-Myers Squibb by 2.7% during the third quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock worth $896,000 after purchasing an additional 456 shares during the period. Signature Estate & Investment Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 18.6% during the third quarter. Signature Estate & Investment Advisors LLC now owns 5,949 shares of the biopharmaceutical company’s stock worth $308,000 after purchasing an additional 932 shares during the period. Finally, Coastline Trust Co lifted its holdings in shares of Bristol-Myers Squibb by 23.6% during the third quarter. Coastline Trust Co now owns 9,592 shares of the biopharmaceutical company’s stock worth $496,000 after purchasing an additional 1,830 shares during the period. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $59.01 on Monday. The stock’s 50 day moving average is $57.81 and its 200-day moving average is $55.61. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $119.75 billion, a price-to-earnings ratio of -13.35, a PEG ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share 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%. Sell-side analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Insider Activity

In related news, EVP Samit Hirawat acquired 1,823 shares of the company’s stock in a transaction on Friday, February 14th. The shares were acquired at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BMY. Cantor Fitzgerald lifted their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price target for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Wells Fargo & Company lifted their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Truist Financial lifted their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, 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 report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $57.86.

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.