Alpine Bank Wealth Management Makes New $678,000 Investment in Bristol Myers Squibb Company (NYSE:BMY)

Alpine Bank Wealth Management purchased a new position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 11,110 shares of the biopharmaceutical company's stock, valued at approximately $678,000.

Other large investors also recently modified their holdings of the company. Polar Asset Management Partners Inc. bought a new stake in Bristol Myers Squibb in the 4th quarter valued at about $16,651,000. Avaii Wealth Management LLC raised its position in shares of Bristol Myers Squibb by 590.9% during the first quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock worth $4,794,000 after purchasing an additional 67,221 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Bristol Myers Squibb by 1.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company's stock worth $3,967,000 after purchasing an additional 869 shares in the last quarter. Shorepoint Capital Partners LLC lifted its stake in shares of Bristol Myers Squibb by 2.2% in the fourth quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company's stock valued at $3,305,000 after buying an additional 1,248 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Bristol Myers Squibb by 17.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 550,613 shares of the biopharmaceutical company's stock worth $33,582,000 after acquiring an additional 80,087 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

Shares of BMY stock traded up $0.00 during trading hours on Thursday, hitting $46.68. 7,321,269 shares of the company were exchanged, compared to its average volume of 12,897,945. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. The firm has a fifty day simple moving average of $48.01 and a 200 day simple moving average of $54.11. Bristol Myers Squibb Company has a 52-week low of $39.35 and a 52-week high of $63.33. The stock has a market capitalization of $95.01 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 1.38 and a beta of 0.38.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The company had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. During the same quarter in the previous year, the firm posted ($4.40) earnings per share. The company's quarterly revenue was down 5.6% compared to the same quarter last year. Research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb's payout ratio is presently 92.88%.

Insider Activity

In other news, EVP Samit Hirawat purchased 4,250 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was bought at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president now directly owns 83,513 shares of the company's stock, valued at $3,973,548.54. This represents a 5.36% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

BMY has been the topic of several recent research reports. Piper Sandler initiated coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price target on the stock. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price objective (down from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Jefferies Financial Group cut their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. UBS Group decreased their price target on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $58.00.

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.