Xcel Wealth Management LLC Buys 6,913 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Xcel Wealth Management LLC grew its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 46.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,732 shares of the biopharmaceutical company's stock after purchasing an additional 6,913 shares during the quarter. Xcel Wealth Management LLC's holdings in Bristol Myers Squibb were worth $1,325,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. King Wealth Management Group lifted its holdings in shares of Bristol Myers Squibb by 2.6% in the fourth quarter. King Wealth Management Group now owns 7,294 shares of the biopharmaceutical company's stock valued at $413,000 after purchasing an additional 182 shares in the last quarter. Thoroughbred Financial Services LLC lifted its position in Bristol Myers Squibb by 1.1% during the 4th quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company's stock worth $1,004,000 after buying an additional 190 shares in the last quarter. Marcum Wealth LLC increased its position in shares of Bristol Myers Squibb by 1.0% in the first quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock valued at $1,177,000 after acquiring an additional 193 shares during the last quarter. Chatham Capital Group Inc. grew its stake in Bristol Myers Squibb by 0.9% in the fourth quarter. Chatham Capital Group Inc. now owns 21,795 shares of the biopharmaceutical company's stock valued at $1,233,000 after purchasing an additional 200 shares in the last quarter. Finally, Leelyn Smith LLC increased its position in shares of Bristol Myers Squibb by 0.5% during the 4th quarter. Leelyn Smith LLC now owns 47,699 shares of the biopharmaceutical company's stock worth $2,698,000 after purchasing an additional 215 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Trading Down 1.3%

NYSE BMY traded down $0.62 during trading hours on Friday, hitting $47.02. 7,024,133 shares of the company's stock were exchanged, compared to its average volume of 12,882,565. The firm has a market cap of $95.68 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 1.41 and a beta of 0.36. The stock has a 50-day simple moving average of $47.75 and a 200 day simple moving average of $53.69. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. Bristol Myers Squibb Company has a 1-year low of $39.35 and a 1-year high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data 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 company had revenue of $11.20 billion during the quarter, compared to analyst estimates of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. Bristol Myers Squibb's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($4.40) EPS. On average, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's payout ratio is 92.88%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Piper Sandler started coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price objective for the company. Cantor Fitzgerald reissued a "neutral" rating and set a $55.00 target price on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. William Blair reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $55.00 price objective (down from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $58.00.

Insider Activity

In other Bristol Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the firm's stock in a transaction on Friday, April 25th. The stock was acquired at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the purchase, the executive vice president owned 83,513 shares of the company's stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

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.