Quadrant Capital Group LLC Increases Stake in Bristol-Myers Squibb (NYSE:BMY)

Quadrant Capital Group LLC increased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,916 shares of the biopharmaceutical company’s stock after purchasing an additional 1,096 shares during the period. Quadrant Capital Group LLC’s holdings in Bristol-Myers Squibb were worth $731,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BMY. Fairway Wealth LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $28,000. Dunhill Financial LLC grew its position in Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 189 shares during the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth $34,000. Westend Capital Management LLC bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $38,000. Finally, Tacita Capital Inc purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at $39,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $55.32 on Monday. The company has a 50 day moving average of $58.62 and a two-hundred day moving average of $56.68. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The company has a market cap of $112.56 billion, a price-to-earnings ratio of -12.52, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping 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%. As a group, analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share 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. Investors of record on Friday, April 4th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The shares were acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Bank of America reaffirmed a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Cantor Fitzgerald lifted their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price objective for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Citigroup lifted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, Truist Financial upped their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $57.86.

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.