Hartford Investment Management Co. Has $7.09 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Hartford Investment Management Co. lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,338 shares of the biopharmaceutical company’s stock after selling 2,109 shares during the period. Hartford Investment Management Co.’s holdings in Bristol-Myers Squibb were worth $7,089,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. TFB Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 14.9% in the 4th quarter. TFB Advisors LLC now owns 4,787 shares of the biopharmaceutical company’s stock worth $271,000 after buying an additional 621 shares in the last quarter. Signet Investment Advisory Group Inc. grew its position in Bristol-Myers Squibb by 2.3% in the fourth quarter. Signet Investment Advisory Group Inc. now owns 8,261 shares of the biopharmaceutical company’s stock valued at $467,000 after acquiring an additional 189 shares during the period. Authentikos Wealth Advisory LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $266,000. Leavell Investment Management Inc. lifted its holdings in shares of Bristol-Myers Squibb by 7.1% during the fourth quarter. Leavell Investment Management Inc. now owns 39,008 shares of the biopharmaceutical company’s stock valued at $2,206,000 after acquiring an additional 2,582 shares during the period. Finally, Portfolio Design Labs LLC boosted its stake in shares of Bristol-Myers Squibb by 34.3% in the 4th quarter. Portfolio Design Labs LLC now owns 50,636 shares of the biopharmaceutical company’s stock valued at $2,864,000 after purchasing an additional 12,930 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BMY. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their target price for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Bank of America reaffirmed a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price on the stock. Truist Financial raised their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. Two 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 MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $55.99 on Wednesday. The firm’s 50 day moving average price is $57.48 and its two-hundred day moving average price is $53.97. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.10. The stock has a market cap of $113.56 billion, a PE ratio of -12.67, a PEG ratio of 2.13 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.81% and a negative net margin of 18.53%. As a group, analysts forecast that Bristol-Myers Squibb will post 6.75 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business 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. The ex-dividend date was Friday, January 3rd. 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 4.43%. Bristol-Myers Squibb’s dividend payout ratio is -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.