Trace Wealth Advisors LLC Makes New $415,000 Investment in Bristol-Myers Squibb (NYSE:BMY)

Trace Wealth Advisors LLC bought a new stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,342 shares of the biopharmaceutical company's stock, valued at approximately $415,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $1,989,525,000. Ameriprise Financial Inc. lifted its holdings in shares of Bristol-Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after acquiring an additional 12,011,983 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Bristol-Myers Squibb by 701.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock worth $705,309,000 after acquiring an additional 10,913,708 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Bristol-Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock worth $338,088,000 after acquiring an additional 5,827,317 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $257,618,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Down 1.9%

Shares of NYSE:BMY traded down $0.90 during trading hours on Wednesday, reaching $46.97. The stock had a trading volume of 11,958,938 shares, compared to its average volume of 13,206,404. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. The firm's 50 day moving average is $52.55 and its 200-day moving average is $55.89. 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 stock has a market capitalization of $95.58 billion, a price-to-earnings ratio of -10.63, a P/E/G ratio of 2.07 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data 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 negative net margin of 18.53% and a positive return on equity of 13.93%. The company had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. During the same period in the prior year, the firm posted ($4.40) EPS. The company's quarterly revenue was down 5.6% compared to the same quarter last year. Research analysts predict that Bristol-Myers Squibb 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 was paid on Thursday, May 1st. Investors of record on Friday, April 4th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date was Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is 92.88%.

Analyst Upgrades and Downgrades

BMY has been the topic of several recent analyst reports. Jefferies Financial Group decreased their price objective 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. Cantor Fitzgerald restated a "neutral" rating and issued a $55.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. William Blair restated a "market perform" rating on shares of Bristol-Myers Squibb in a report on Friday, April 25th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Finally, Piper Sandler assumed coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 target price on the stock. Two 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 stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $58.00.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 83,513 shares of the company's stock, valued at approximately $3,973,548.54. This represents a 5.36% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.07% of the company's stock.

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.