Raleigh Capital Management Inc. Has $2.23 Million Holdings in Bristol-Myers Squibb (NYSE:BMY)

Raleigh Capital Management Inc. lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 39,439 shares of the biopharmaceutical company’s stock after selling 3,041 shares during the quarter. Bristol-Myers Squibb comprises approximately 0.9% of Raleigh Capital Management Inc.’s investment portfolio, making the stock its 24th largest position. Raleigh Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $2,231,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Mutual Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 1.4% in the 4th quarter. Mutual Advisors LLC now owns 55,393 shares of the biopharmaceutical company’s stock valued at $3,123,000 after buying an additional 741 shares during the period. Wendell David Associates Inc. grew its stake in Bristol-Myers Squibb by 5.2% in the fourth quarter. Wendell David Associates Inc. now owns 20,201 shares of the biopharmaceutical company’s stock valued at $1,143,000 after acquiring an additional 992 shares during the period. Traynor Capital Management Inc. increased its holdings in shares of Bristol-Myers Squibb by 4.3% in the fourth quarter. Traynor Capital Management Inc. now owns 7,275 shares of the biopharmaceutical company’s stock worth $411,000 after acquiring an additional 300 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Bristol-Myers Squibb by 29.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 954,727 shares of the biopharmaceutical company’s stock valued at $53,999,000 after purchasing an additional 217,603 shares in the last quarter. Finally, Magnus Financial Group LLC grew its position in shares of Bristol-Myers Squibb by 28.4% in the 4th quarter. Magnus Financial Group LLC now owns 7,814 shares of the biopharmaceutical company’s stock valued at $442,000 after purchasing an additional 1,727 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Up 0.1 %

BMY opened at $57.11 on Thursday. The stock’s fifty day simple moving average is $57.39 and its 200 day simple moving average is $52.36. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The stock has a market cap of $115.83 billion, a PE ratio of -15.91, a price-to-earnings-growth ratio of 2.02 and a beta of 0.45. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. Bristol-Myers Squibb’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.00 EPS. As a group, research analysts expect that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be paid a $0.62 dividend. The ex-dividend date is Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.34%. Bristol-Myers Squibb’s payout ratio is -69.08%.

Insiders Place Their Bets

In related news, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. The trade was a 5.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BMY shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price target for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective for the company. 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. Finally, Truist Financial raised their price target 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 research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $56.27.

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.