Perpetual Ltd Has $1.47 Million Holdings in Bristol-Myers Squibb (NYSE:BMY)

Perpetual Ltd boosted its stake in Bristol-Myers Squibb (NYSE:BMY) by 7.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 25,912 shares of the biopharmaceutical company’s stock after buying an additional 1,703 shares during the period. Perpetual Ltd’s holdings in Bristol-Myers Squibb were worth $1,466,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Legal Advantage Investments Inc. bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth about $220,000. ARS Investment Partners LLC grew its stake in Bristol-Myers Squibb by 2.4% during the fourth quarter. ARS Investment Partners LLC now owns 21,685 shares of the biopharmaceutical company’s stock worth $1,227,000 after buying an additional 500 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Bristol-Myers Squibb by 3.0% during the fourth quarter. Crossmark Global Holdings Inc. now owns 190,814 shares of the biopharmaceutical company’s stock worth $10,793,000 after buying an additional 5,488 shares in the last quarter. Ballentine Partners LLC raised its stake in shares of Bristol-Myers Squibb by 3.9% in the fourth quarter. Ballentine Partners LLC now owns 40,553 shares of the biopharmaceutical company’s stock valued at $2,294,000 after acquiring an additional 1,508 shares during the last quarter. Finally, Pure Financial Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 48.2% in the 4th quarter. Pure Financial Advisors LLC now owns 7,808 shares of the biopharmaceutical company’s stock worth $442,000 after acquiring an additional 2,538 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This represents a 3.04 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BMY shares. Morgan Stanley lifted their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. TD Cowen increased their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Truist Financial boosted their target price 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. Finally, Citigroup increased their price target on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.27.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $57.01 on Wednesday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The company has a market capitalization of $115.63 billion, a price-to-earnings ratio of -15.88, a P/E/G ratio of 1.98 and a beta of 0.45. The firm’s 50 day simple moving average is $57.46 and its 200 day simple moving average is $52.20.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same period last year, the firm posted $2.00 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is -69.08%.

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.