TCW Group Inc. Raises Stock Position in Bristol-Myers Squibb (NYSE:BMY)

TCW Group Inc. increased its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.0% during the 4th quarter, HoldingsChannel reports. The firm owned 37,339 shares of the biopharmaceutical company’s stock after buying an additional 721 shares during the period. TCW Group Inc.’s holdings in Bristol-Myers Squibb were worth $2,112,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Reston Wealth Management LLC purchased a new stake in Bristol-Myers Squibb in the third quarter worth approximately $25,000. Hollencrest Capital Management boosted its holdings in Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares during the last quarter. Kennebec Savings Bank purchased a new stake in Bristol-Myers Squibb in the third quarter worth approximately $28,000. Darwin Wealth Management LLC bought a new position in Bristol-Myers Squibb in the third quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC raised its position in Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the company’s stock in a transaction on Friday, February 14th. The stock was acquired 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 directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BMY shares. Truist Financial increased 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 report on Wednesday, January 8th. BMO Capital Markets increased their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Morgan Stanley increased their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price target for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $57.83 on Tuesday. 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 company has a market cap of $117.34 billion, a P/E ratio of -13.08, a P/E/G ratio of 2.07 and a beta of 0.45. The firm’s fifty day moving average is $57.03 and its two-hundred day moving average is $54.48. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.10.

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

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were paid a $0.62 dividend. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

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.