TCW Group Inc. Boosts Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

TCW Group Inc. raised its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,339 shares of the biopharmaceutical company’s stock after buying an additional 721 shares during the period. TCW Group Inc.’s holdings in Bristol-Myers Squibb were worth $2,112,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. First Horizon Advisors Inc. raised its stake in shares of Bristol-Myers Squibb by 2.8% during the fourth quarter. First Horizon Advisors Inc. now owns 406,458 shares of the biopharmaceutical company’s stock valued at $22,989,000 after acquiring an additional 11,072 shares during the last quarter. Lipe & Dalton raised its stake in shares of Bristol-Myers Squibb by 0.4% during the fourth quarter. Lipe & Dalton now owns 56,769 shares of the biopharmaceutical company’s stock valued at $3,211,000 after acquiring an additional 208 shares during the last quarter. Cowa LLC raised its stake in shares of Bristol-Myers Squibb by 42.0% during the fourth quarter. Cowa LLC now owns 16,970 shares of the biopharmaceutical company’s stock valued at $960,000 after acquiring an additional 5,017 shares during the last quarter. Redmond Asset Management LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $228,000. Finally, Cypress Capital LLC raised its stake in shares of Bristol-Myers Squibb by 25.6% during the fourth quarter. Cypress Capital LLC now owns 47,588 shares of the biopharmaceutical company’s stock valued at $2,692,000 after acquiring an additional 9,693 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Samit Hirawat purchased 1,823 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the acquisition, 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $57.83 on Tuesday. The stock has a market cap of $117.34 billion, a PE ratio of -13.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.45. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. The firm’s 50-day simple moving average is $57.03 and its two-hundred day simple moving average is $54.48.

Bristol-Myers Squibb (NYSE:BMY) last announced 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 negative net margin of 18.53% and a positive return on equity of 13.93%. Analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were issued a dividend of $0.62 per share. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.29%. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BMY shares. Morgan Stanley upped their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price objective for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Wells Fargo & Company increased their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Company Profile

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.