Palacios Wealth Management LLC Acquires Shares in Bristol-Myers Squibb

Palacios Wealth Management LLC has taken a new investment position in Bristol-Myers Squibb (NYSE:BMY) during the fourth quarter, as indicated by their latest filing with the SEC. The investment firm has acquired 7,816 shares of the biopharmaceutical company, amounting to a value of approximately $440,000.

Recent Institutional Activity

In addition to Palacios Wealth Management, several other institutional investors have also recently engaged in buying and selling Bristol-Myers Squibb shares. For instance, AMF Tjanstepension AB enhanced its holdings in the company by 6.9% in the third quarter and now owns 610,181 shares valued at around $31.6 million after purchasing an additional 39,419 shares. Likewise, Exchange Traded Concepts LLC increased its stake by 18.1%, now holding 26,468 shares worth about $1.37 million after acquiring 4,064 more shares. Swedbank AB also boosted its stake by 0.9%, resulting in ownership of 3,139,552 shares valued at $162.44 million after obtaining 28,427 additional shares. SeaCrest Wealth Management LLC raised its holdings by 35.7% and Sumitomo Life Insurance Co. upped its stake by 2.8%. Overall, institutional investors and hedge funds currently hold 76.41% of Bristol-Myers Squibb's stock.

Current Stock Performance

Bristol-Myers Squibb shares started trading at $55.93 on a recent Friday. Over the past year, the stock has experienced a low of $39.35 and a high of $61.10. The company's market capitalization stands at $113.44 billion, with a price-to-earnings ratio of -12.65, a PEG ratio of 2.13, and a beta of 0.45. The firm has a fifty-day simple moving average of $57.38 and a 200-day simple moving average of $54.02. Financial metrics include a quick ratio of 1.09, a current ratio of 1.24, and a debt-to-equity ratio of 2.83.

Financial Results and Dividends

Bristol-Myers Squibb recently published its earnings report on Thursday, February 6, showing earnings per share (EPS) of $1.67 for the quarter. This result exceeded analysts' expectations of $1.47 by $0.20. The company reported a negative net margin of 18.53% but a positive return on equity of 13.81%. Looking ahead, analysts predict that Bristol-Myers Squibb will achieve an EPS of 6.75 for the current fiscal year.

On February 3, the company also announced an increase in its quarterly dividend, which was paid to shareholders who were on record as of January 3. The dividend increased to $0.62 per share from the previous $0.60. This change reflects an annualized dividend of $2.48, providing a dividend yield of 4.43%. The company’s dividend payout ratio is currently at -56.11%.

Analyst Ratings and Growth Forecasts

Market analysts have recently issued reports regarding Bristol-Myers Squibb's stock. For example, Daiwa America upgraded the stock from a "hold" rating to a "strong-buy" rating on November 13. Meanwhile, Morgan Stanley adjusted their target price for Bristol-Myers Squibb from $36.00 to $39.00, attributing an "underweight" rating to the stock. Citigroup raised its target price from $60.00 to $65.00 with a "neutral" rating. Additionally, Daiwa Capital Markets upgraded their recommendation from "neutral" to "outperform". Currently, among investment analysts, two have rated the stock as a sell, twelve as a hold, four as a buy, and three as a strong buy, leading to an average rating of "Hold" with a target price of $57.86.

Overview of Bristol-Myers Squibb

Bristol-Myers Squibb Company is involved in the discovery, development, licensing, manufacturing, marketing, distribution, and sale of biopharmaceutical products on a global scale. The company offers products across various medical fields, including hematology, oncology, cardiovascular health, immunology, fibrotic diseases, and neuroscience. Their notable products include Eliquis, Opdivo, Pomalyst/Imnovid, Orencia, and Sprycel, among others.

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