Colrain Capital LLC Buys Shares of 121,500 Bristol-Myers Squibb (NYSE:BMY)

Colrain Capital LLC purchased a new stake in Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 121,500 shares of the biopharmaceutical company’s stock, valued at approximately $6,872,000. Bristol-Myers Squibb makes up 6.7% of Colrain Capital LLC’s holdings, making the stock its 5th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wealthspire Advisors LLC increased its position in shares of Bristol-Myers Squibb by 0.6% during the fourth quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock worth $1,622,000 after purchasing an additional 170 shares in the last quarter. Edmp Inc. increased its position in Bristol-Myers Squibb by 0.4% during the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock valued at $2,353,000 after buying an additional 171 shares in the last quarter. Trust Point Inc. raised its stake in Bristol-Myers Squibb by 1.9% in the fourth quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock valued at $533,000 after buying an additional 172 shares during the last quarter. Bedel Financial Consulting Inc. boosted its holdings in Bristol-Myers Squibb by 3.2% in the fourth quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock worth $340,000 after acquiring an additional 175 shares in the last quarter. Finally, Horst & Graben Wealth Management LLC increased its holdings in shares of Bristol-Myers Squibb by 2.4% during the fourth quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock valued at $426,000 after acquiring an additional 179 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 2.0 %

BMY opened at $60.10 on Monday. The company has a fifty day moving average of $58.55 and a two-hundred day moving average of $56.35. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The stock has a market capitalization of $121.96 billion, a price-to-earnings ratio of -13.60, a PEG ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. On average, research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on BMY. Cantor Fitzgerald lifted their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the company from $63.00 to $70.00 in a report on Monday, December 16th. Bank of America restated a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Truist Financial increased their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Wells Fargo & Company lifted their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Company 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.