Bristol-Myers Squibb (NYSE:BMY) Shares Acquired by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 13.2% in the 4th quarter, HoldingsChannel reports. The firm owned 5,328 shares of the biopharmaceutical company’s stock after acquiring an additional 620 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $301,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BMY. Fairway Wealth LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth $28,000. Dunhill Financial LLC lifted its stake in Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 189 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth about $34,000. Westend Capital Management LLC purchased a new position in Bristol-Myers Squibb during the 4th quarter valued at about $38,000. Finally, Tacita Capital Inc purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $55.32 on Monday. The firm has a market capitalization of $112.56 billion, a PE ratio of -12.52, a PEG ratio of 2.07 and a beta of 0.41. 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 has a 1 year low of $39.35 and a 1 year high of $63.33. The firm’s fifty day simple moving average is $58.62 and its 200 day simple moving average is $56.68.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 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, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors 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 4.48%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -56.11%.

Analysts Set New Price Targets

Several analysts recently commented on BMY shares. Cantor Fitzgerald raised their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Bank of America reissued a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Truist Financial upped their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Wells Fargo & Company lifted their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Finally, Citigroup upped their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $57.86.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.

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.