Bristol-Myers Squibb (NYSE:BMY) Stake Lifted by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. increased its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.9% in the 4th quarter, HoldingsChannel reports. The fund owned 11,540 shares of the biopharmaceutical company’s stock after acquiring an additional 324 shares during the period. Retirement Planning Co of New England Inc.’s holdings in Bristol-Myers Squibb were worth $653,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Mystic Asset Management Inc. boosted its holdings in shares of Bristol-Myers Squibb by 62.4% in the fourth quarter. Mystic Asset Management Inc. now owns 23,958 shares of the biopharmaceutical company’s stock valued at $1,355,000 after acquiring an additional 9,206 shares in the last quarter. Leelyn Smith LLC boosted its holdings in shares of Bristol-Myers Squibb by 0.5% in the fourth quarter. Leelyn Smith LLC now owns 47,699 shares of the biopharmaceutical company’s stock valued at $2,698,000 after acquiring an additional 215 shares in the last quarter. Haven Capital Group Inc. bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $513,000. Flagship Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $318,000. Finally, Wealth Architects LLC boosted its holdings in shares of Bristol-Myers Squibb by 5.3% in the fourth quarter. Wealth Architects LLC now owns 5,965 shares of the biopharmaceutical company’s stock valued at $337,000 after acquiring an additional 302 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BMY. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their target price for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Cantor Fitzgerald raised their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Bank of America restated a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Truist Financial raised their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Citigroup raised their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Stock Up 1.8 %

Shares of NYSE:BMY opened at $60.07 on Tuesday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The company has a market cap of $121.89 billion, a PE ratio of -13.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The firm has a 50 day simple moving average of $57.87 and a 200 day simple moving average of $55.69.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. As a group, research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

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 of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.13%. Bristol-Myers Squibb’s payout ratio is -56.11%.

Insiders Place Their Bets

In related news, EVP Samit Hirawat bought 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The stock was bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

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.