Griffin Asset Management Inc. Has $4.50 Million Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Griffin Asset Management Inc. boosted its stake in Bristol-Myers Squibb (NYSE:BMY) by 0.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 79,614 shares of the biopharmaceutical company’s stock after buying an additional 563 shares during the period. Griffin Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $4,503,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Reston Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the third quarter valued at approximately $25,000. Hollencrest Capital Management increased 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 purchasing an additional 187 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $28,000. Darwin Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb in the third quarter worth $29,000. Finally, Valued Wealth Advisors LLC lifted its stake in shares of 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. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on 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 purchase, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BMY shares. Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price for the company. Bank of America reissued a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Truist Financial boosted their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. BMO Capital Markets upped their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley lifted their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.60.

Bristol-Myers Squibb Price Performance

BMY opened at $60.61 on Tuesday. The stock’s 50 day moving average price is $57.47 and its 200-day moving average price is $52.71. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.10. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The stock has a market capitalization of $122.93 billion, a PE ratio of -16.88, a price-to-earnings-growth ratio of 2.02 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data 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 business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter in the prior year, the company earned $2.00 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts predict that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be issued a $0.62 dividend. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.09%. 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.