Sovereign Investment Advisors LLC Acquires Shares of 5,215 Bristol-Myers Squibb (NYSE:BMY)

Sovereign Investment Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,215 shares of the biopharmaceutical company’s stock, valued at approximately $295,000.

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

Insider Activity

In related news, EVP Samit Hirawat acquired 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the purchase, the executive vice president now owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

BMY has been the topic of several recent research reports. Citigroup increased their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Truist Financial increased their target price 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. Wells Fargo & Company increased their target price 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. Bank of America restated a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their target price for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Trading Down 2.1 %

NYSE BMY opened at $59.01 on Friday. The stock’s 50-day simple moving average is $57.81 and its two-hundred day simple moving average is $55.57. 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 company 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 results 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 positive return on equity of 13.93% and a negative net margin of 18.53%. Research 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 dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.20%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -56.11%.

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.