Cambridge Investment Research Advisors Inc. Raises Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Cambridge Investment Research Advisors Inc. increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 36.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 513,727 shares of the biopharmaceutical company's stock after acquiring an additional 137,203 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Bristol-Myers Squibb were worth $29,056,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BMY. Truist Financial Corp grew its position in Bristol-Myers Squibb by 3.9% in the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company's stock worth $90,335,000 after purchasing an additional 60,365 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in Bristol-Myers Squibb in the fourth quarter worth about $488,000. Decker Retirement Planning Inc. bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $474,000. Corundum Group Inc. boosted its stake in shares of Bristol-Myers Squibb by 67.8% during the 4th quarter. Corundum Group Inc. now owns 43,534 shares of the biopharmaceutical company's stock worth $2,462,000 after acquiring an additional 17,596 shares in the last quarter. Finally, High Net Worth Advisory Group LLC increased its position in shares of Bristol-Myers Squibb by 42.2% in the fourth quarter. High Net Worth Advisory Group LLC now owns 16,974 shares of the biopharmaceutical company's stock worth $960,000 after acquiring an additional 5,040 shares in the last quarter. Institutional investors own 76.41% of the company's stock.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 4,250 shares of Bristol-Myers Squibb stock in a transaction on Friday, April 25th. The shares were acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the transaction, the executive vice president now owns 83,513 shares in the company, valued at $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $55.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. UBS Group decreased their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Piper Sandler started coverage on Bristol-Myers Squibb in a report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 target price on the stock. Jefferies Financial Group decreased their price target on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Citigroup upped their price objective on 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, thirteen have issued a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $58.00.

Bristol-Myers Squibb Trading Up 2.5%

Shares of Bristol-Myers Squibb stock traded up $1.17 on Monday, hitting $47.62. The stock had a trading volume of 13,120,098 shares, compared to its average volume of 13,135,493. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month 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 market capitalization of $96.91 billion, a P/E ratio of -10.78, a PEG ratio of 2.07 and a beta of 0.39. The stock has a 50 day moving average of $54.54 and a 200 day moving average of $56.23.

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

Bristol-Myers Squibb Dividend Announcement

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