Sherman Asset Management Inc. Takes Position in Bristol-Myers Squibb (NYSE:BMY)

Sherman Asset Management Inc. purchased a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,861 shares of the biopharmaceutical company’s stock, valued at approximately $162,000.

A number of other large investors have also added to or reduced their stakes in BMY. Reston Wealth Management LLC acquired a new stake in Bristol-Myers Squibb during the 3rd quarter valued at $25,000. Hollencrest Capital Management grew its holdings in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares in the last quarter. Kennebec Savings Bank acquired a new stake in Bristol-Myers Squibb during the 3rd quarter valued at $28,000. Darwin Wealth Management LLC acquired a new stake in Bristol-Myers Squibb during the 3rd quarter valued at $29,000. Finally, Dunhill Financial LLC grew its holdings in Bristol-Myers Squibb by 39.8% during the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 189 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,823 shares of the company’s stock in a transaction on Friday, February 14th. The shares were bought at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, 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 purchase was disclosed in a document filed with the SEC, which is available through this link. 0.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

BMY has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Bank of America reissued a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. Finally, Truist Financial raised their price objective 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. Two 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. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Trading Up 1.5 %

Shares of NYSE:BMY opened at $59.71 on Friday. The company has a market cap of $121.17 billion, a PE ratio of -13.51, a P/E/G ratio of 2.07 and a beta of 0.45. The company’s 50-day moving average price is $57.15 and its 200 day moving average price is $54.74. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. 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 (NYSE:BMY) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate 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%. Sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were given a $0.62 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.15%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -56.11%.

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.