Bristol-Myers Squibb (NYSE:BMY) Shares Bought by Townsend Asset Management Corp NC ADV

Townsend Asset Management Corp NC ADV lifted its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 23.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 8,844 shares of the biopharmaceutical company’s stock after buying an additional 1,694 shares during the period. Townsend Asset Management Corp NC ADV’s holdings in Bristol-Myers Squibb were worth $500,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of BMY. Hollencrest Capital Management boosted its position in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 187 shares in the last quarter. Kennebec Savings Bank purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $28,000. Darwin Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $29,000. Dunhill Financial LLC grew its holdings in Bristol-Myers Squibb by 39.8% during the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 189 shares during the last quarter. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter worth $34,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Buying and Selling

In related news, EVP Samit Hirawat bought 1,823 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was bought at an average price of $54.84 per share, with a total value of $99,973.32. Following the transaction, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BMY. Morgan Stanley boosted their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Finally, Cantor Fitzgerald raised their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Stock Up 0.7 %

Shares of NYSE:BMY opened at $59.85 on Thursday. The company has a market capitalization of $121.44 billion, a price-to-earnings ratio of -13.54, a price-to-earnings-growth ratio of 2.07 and a beta of 0.45. The company has a 50 day moving average of $57.28 and a two-hundred day moving average of $54.97. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.10. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate 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%. As a group, analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 dividend yield of 4.14%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

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.