Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,551 shares of the biopharmaceutical company’s stock after selling 6,728 shares during the quarter. Patten & Patten Inc. TN’s holdings in Bristol-Myers Squibb were worth $4,047,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BMY. Fairway Wealth LLC purchased a new stake in Bristol-Myers Squibb during the fourth quarter worth $28,000. Darwin Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb in the third quarter worth about $29,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth about $34,000. Dunhill Financial LLC grew its position in shares of Bristol-Myers Squibb by 39.8% during the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 189 shares during the period. Finally, Westend Capital Management LLC purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the topic of several research analyst reports. Citigroup raised their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price target for the company from $63.00 to $70.00 in a research note 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. Truist Financial boosted their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Cantor Fitzgerald raised their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $57.86.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction on Friday, February 14th. The shares were bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the transaction, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $59.01 on Friday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The firm has a market capitalization of $119.75 billion, a P/E ratio of -13.35, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The stock’s fifty day moving average is $57.81 and its two-hundred day moving average is $55.57. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (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%. On average, research analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

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.