Bristol-Myers Squibb (NYSE:BMY) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. grew its position in Bristol-Myers Squibb (NYSE:BMY) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,565 shares of the biopharmaceutical company’s stock after purchasing an additional 20,177 shares during the period. QRG Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $17,509,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Reston Wealth Management LLC acquired a new position in Bristol-Myers Squibb during the 3rd quarter worth approximately $25,000. Hollencrest Capital Management lifted its position in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares in the last quarter. Kennebec Savings Bank acquired a new position in Bristol-Myers Squibb during the 3rd quarter worth approximately $28,000. Darwin Wealth Management LLC acquired a new position in Bristol-Myers Squibb during the 3rd quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC lifted its position in Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $58.78 on Friday. The company has a market cap of $119.27 billion, a P/E ratio of -13.30, a PEG ratio of 2.07 and a beta of 0.45. The stock has a fifty day moving average price of $57.11 and a 200 day moving average price of $54.61. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last issued 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, research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders 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. The ex-dividend date was Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.22%. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BMY. Citigroup boosted their price target 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. Wells Fargo & Company upped their target price 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. Morgan Stanley upped their target price 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. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their target price for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Finally, Wolfe Research began coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $57.86.

Insider Transactions at Bristol-Myers Squibb

In other 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, for a total transaction of $99,973.32. Following the completion of the acquisition, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.09% of the company’s stock.

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.