Bristol-Myers Squibb (NYSE:BMY) Shares Bought by Assetmark Inc.

Assetmark Inc. boosted its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 30.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 259,621 shares of the biopharmaceutical company’s stock after acquiring an additional 60,954 shares during the period. Assetmark Inc.’s holdings in Bristol-Myers Squibb were worth $14,684,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Souders Financial Advisors raised its position in Bristol-Myers Squibb by 9.6% during the fourth quarter. Souders Financial Advisors now owns 6,362 shares of the biopharmaceutical company’s stock worth $360,000 after acquiring an additional 558 shares during the last quarter. Wealth Advisory Solutions LLC raised its position in Bristol-Myers Squibb by 4.4% during the fourth quarter. Wealth Advisory Solutions LLC now owns 6,708 shares of the biopharmaceutical company’s stock worth $379,000 after acquiring an additional 284 shares during the last quarter. Exencial Wealth Advisors LLC raised its position in Bristol-Myers Squibb by 8.8% during the fourth quarter. Exencial Wealth Advisors LLC now owns 16,776 shares of the biopharmaceutical company’s stock worth $949,000 after acquiring an additional 1,353 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in Bristol-Myers Squibb by 36.8% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 13,526 shares of the biopharmaceutical company’s stock worth $759,000 after acquiring an additional 3,639 shares during the last quarter. Finally, Tacita Capital Inc acquired a new position in Bristol-Myers Squibb during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

BMY has been the subject of a number of analyst reports. Wolfe Research initiated coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Morgan Stanley boosted their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Wells Fargo & Company boosted their price objective on shares of 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. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Finally, Truist Financial boosted their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. 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 stock. According to data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $57.86.

Insider Activity

In other news, EVP Samit Hirawat purchased 1,823 shares of the stock in a transaction that occurred 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 acquisition, the executive vice president now owns 63,932 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $60.13 on Friday. The company’s fifty day simple moving average is $57.32 and its 200-day simple moving average is $55.00. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The company has a market cap of $122.01 billion, a PE ratio of -13.60, a P/E/G ratio of 2.07 and a beta of 0.45.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

Bristol-Myers Squibb 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.