First Citizens Bank & Trust Co. Sells 9,397 Shares of Bristol-Myers Squibb (NYSE:BMY)

First Citizens Bank & Trust Co. trimmed its stake in Bristol-Myers Squibb (NYSE:BMY) by 8.0% in the fourth quarter, Holdings Channel reports. The firm owned 108,080 shares of the biopharmaceutical company’s stock after selling 9,397 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Bristol-Myers Squibb were worth $6,113,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BMY. Meridian Management Co. raised its holdings in Bristol-Myers Squibb by 0.6% in the 3rd quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock worth $1,463,000 after acquiring an additional 182 shares during the last quarter. Hollencrest Capital Management grew its position in Bristol-Myers Squibb by 61.3% in 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 during the period. Dunhill Financial LLC grew its position in Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 189 shares during the period. Mayflower Financial Advisors LLC grew its position in Bristol-Myers Squibb by 2.3% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company’s stock worth $438,000 after purchasing an additional 192 shares during the period. Finally, Lakewood Asset Management LLC grew its position in Bristol-Myers Squibb by 0.7% in the 4th quarter. Lakewood Asset Management LLC now owns 26,867 shares of the biopharmaceutical company’s stock worth $1,520,000 after purchasing an additional 195 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Up 0.9 %

Shares of NYSE BMY opened at $59.68 on Friday. The firm’s 50-day moving average price is $57.47 and its 200-day moving average price is $52.54. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The stock has a market capitalization of $121.05 billion, a price-to-earnings ratio of -16.63, a P/E/G ratio of 2.02 and a beta of 0.45. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.00 EPS. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 0.92 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be paid a $0.62 dividend. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is currently -69.08%.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

BMY has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. 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. Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective for the company. Finally, Wolfe Research began coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $56.27.

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.