WealthTrust Axiom LLC Purchases 793 Shares of Bristol-Myers Squibb (NYSE:BMY)

WealthTrust Axiom LLC grew its position in Bristol-Myers Squibb (NYSE:BMY) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 126,892 shares of the biopharmaceutical company’s stock after acquiring an additional 793 shares during the period. Bristol-Myers Squibb comprises approximately 2.1% of WealthTrust Axiom LLC’s investment portfolio, making the stock its 8th biggest position. WealthTrust Axiom LLC’s holdings in Bristol-Myers Squibb were worth $7,177,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BMY. Wealthspire Advisors LLC raised its holdings in Bristol-Myers Squibb by 0.6% in the 4th quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock worth $1,622,000 after purchasing an additional 170 shares during the period. Edmp Inc. increased its position in shares of Bristol-Myers Squibb by 0.4% in the fourth quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock valued at $2,353,000 after buying an additional 171 shares in the last quarter. Trust Point Inc. raised its stake in shares of Bristol-Myers Squibb by 1.9% during the 4th quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock worth $533,000 after buying an additional 172 shares during the period. Bedel Financial Consulting Inc. lifted its position in shares of Bristol-Myers Squibb by 3.2% during the 4th quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock valued at $340,000 after buying an additional 175 shares in the last quarter. Finally, Horst & Graben Wealth Management LLC grew its stake in Bristol-Myers Squibb by 2.4% in the 4th quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock valued at $426,000 after acquiring an additional 179 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $50.68 on Friday. The firm has a 50 day simple moving average of $57.71 and a 200-day simple moving average of $56.73. The stock has a market cap of $103.11 billion, a price-to-earnings ratio of -11.46, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.89%. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Insiders Place Their Bets

In related news, EVP Samit Hirawat acquired 1,823 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now owns 63,932 shares in the company, valued at $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 is available at the SEC website. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BMY has been the topic of several recent analyst reports. Cantor Fitzgerald increased their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Truist Financial raised their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 price objective (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. UBS Group lowered their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company boosted their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned 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, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $57.67.

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.