Chancellor Financial Group WB LP Acquires New Position in Bristol-Myers Squibb (NYSE:BMY)

Chancellor Financial Group WB LP acquired a new stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,673 shares of the biopharmaceutical company's stock, valued at approximately $491,000.

Other hedge funds have also recently modified their holdings of the company. Truist Financial Corp increased its stake in shares of Bristol-Myers Squibb by 3.9% during 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. Quilter Plc increased its position in Bristol-Myers Squibb by 56.6% in the fourth quarter. Quilter Plc now owns 107,818 shares of the biopharmaceutical company's stock worth $6,098,000 after buying an additional 38,977 shares during the last quarter. Advyzon Investment Management LLC bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $458,000. Synergy Asset Management LLC bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at about $246,000. Finally, Leo Wealth LLC grew its position in shares of Bristol-Myers Squibb by 51.5% in the fourth quarter. Leo Wealth LLC now owns 14,965 shares of the biopharmaceutical company's stock valued at $846,000 after purchasing an additional 5,085 shares in the last quarter. Institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Stock Up 0.9%

NYSE:BMY traded up $0.41 during trading hours on Friday, reaching $48.26. 20,756,575 shares of the company traded hands, compared to its average volume of 13,069,665. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. The stock has a market capitalization of $98.21 billion, a P/E ratio of -10.92, a P/E/G ratio of 2.07 and a beta of 0.39. The business's 50-day moving average price is $50.49 and its two-hundred day moving average price is $55.34. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

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

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 4th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend was Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio is currently 92.88%.

Insider Activity

In other news, EVP Samit Hirawat purchased 4,250 shares of the stock in a transaction dated Friday, April 25th. The shares were purchased at an average cost of $47.58 per share, with a total value 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company's stock.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of recent analyst reports. William Blair reaffirmed a "market perform" rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $55.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. Jefferies Financial Group decreased their target price on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company raised their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Finally, Argus upgraded shares of Bristol-Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $58.00.

Bristol-Myers Squibb 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.