Abacus FCF Advisors LLC Buys 81,017 Shares of Bristol-Myers Squibb (NYSE:BMY)

Abacus FCF Advisors LLC raised its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 66.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 203,358 shares of the biopharmaceutical company’s stock after purchasing an additional 81,017 shares during the quarter. Bristol-Myers Squibb makes up approximately 1.5% of Abacus FCF Advisors LLC’s investment portfolio, making the stock its 13th largest holding. Abacus FCF Advisors LLC’s holdings in Bristol-Myers Squibb were worth $11,502,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Fairway Wealth LLC acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at approximately $28,000. Dunhill Financial LLC grew its stake in shares of Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 189 shares during the period. Comprehensive Financial Planning Inc. PA bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at about $34,000. Westend Capital Management LLC bought a new position in Bristol-Myers Squibb in the fourth quarter worth approximately $38,000. Finally, Tacita Capital Inc acquired a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $39,000. Institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Samit Hirawat purchased 1,823 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were acquired at an average cost 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the subject of a number of analyst reports. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price objective for the company from $63.00 to $70.00 in a report on Monday, December 16th. Citigroup lifted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Wells Fargo & Company raised their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Truist Financial boosted their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Bank of America restated a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $55.18 on Tuesday. The business has a 50-day simple moving average of $58.52 and a 200 day simple moving average of $56.72. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The stock has a market cap of $112.27 billion, a price-to-earnings ratio of -12.48, a PEG ratio of 2.07 and a beta of 0.41. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping the consensus estimate 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%. On average, research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.49%. Bristol-Myers Squibb’s payout ratio is -56.11%.

Bristol-Myers Squibb Company 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.