Toth Financial Advisory Corp Raises Stake in Bristol-Myers Squibb (NYSE:BMY)

Toth Financial Advisory Corp increased its position in Bristol-Myers Squibb (NYSE:BMY) by 28.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 73,018 shares of the biopharmaceutical company’s stock after purchasing an additional 16,041 shares during the period. Toth Financial Advisory Corp’s holdings in Bristol-Myers Squibb were worth $4,130,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Inspire Trust Co. N.A. lifted its holdings in Bristol-Myers Squibb by 39.0% in the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after buying an additional 29,044 shares during the period. Contravisory Investment Management Inc. purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth approximately $488,000. Patriot Financial Group Insurance Agency LLC lifted its holdings in Bristol-Myers Squibb by 3.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after buying an additional 206 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in Bristol-Myers Squibb by 34.3% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock worth $2,305,000 after buying an additional 11,387 shares during the period. Finally, iA Global Asset Management Inc. lifted its position in shares of Bristol-Myers Squibb by 81.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock worth $3,972,000 after purchasing an additional 34,418 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Activity

In related news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BMY shares. Bank of America reaffirmed a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. UBS Group raised their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Truist Financial raised their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Finally, Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price for the company. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $56.27.

Bristol-Myers Squibb Stock Up 0.9 %

BMY stock opened at $59.68 on Friday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The business has a fifty day moving average price of $57.47 and a 200-day moving average price of $52.54. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The stock has a market capitalization of $121.05 billion, a P/E ratio of -16.63, a P/E/G ratio of 2.02 and a beta of 0.45.

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

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.16%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is presently -69.08%.

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.