Accredited Wealth Management LLC Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

Accredited Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,449 shares of the biopharmaceutical company's stock, valued at approximately $478,000.

A number of other institutional investors have also added to or reduced their stakes in BMY. Transce3nd LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter worth $28,000. Fairway Wealth LLC bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $28,000. Comprehensive Financial Planning Inc. PA bought a new position in Bristol-Myers Squibb in the fourth quarter worth $34,000. Westend Capital Management LLC purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at $38,000. Finally, Tacita Capital Inc bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $39,000. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BMY shares. Argus upgraded shares of Bristol-Myers Squibb to a "hold" rating in a report on Friday, April 25th. William Blair reissued a "market perform" rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Piper Sandler initiated coverage on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price for the company. UBS Group reduced their price target on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, Wells Fargo & Company upped their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $58.00.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $47.58 per share, with a total value of $202,215.00. Following the acquisition, the executive vice president now owns 83,513 shares in the company, valued at approximately $3,973,548.54. The trade was a 5.36 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Price Performance

Shares of BMY traded down $2.46 during midday trading on Tuesday, hitting $47.60. 18,505,635 shares of the company traded hands, compared to its average volume of 13,005,675. 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 firm has a 50 day moving average of $55.53 and a 200-day moving average of $56.39. The stock has a market cap of $96.88 billion, a price-to-earnings ratio of -10.77, a PEG ratio of 2.07 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. The business had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The firm's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted ($4.40) EPS. On average, analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 4th were given a dividend of $0.62 per share. The ex-dividend date was Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 5.21%. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently 92.88%.

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.