Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Archer Investment Corp

Archer Investment Corp decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,671 shares of the biopharmaceutical company’s stock after selling 642 shares during the period. Archer Investment Corp’s holdings in Bristol-Myers Squibb were worth $1,395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Lodestar Private Asset Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $257,000. Fairvoy Private Wealth LLC acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $1,240,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Bristol-Myers Squibb by 0.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,681,038 shares of the biopharmaceutical company’s stock valued at $264,760,000 after acquiring an additional 27,232 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter worth $4,377,000. Finally, Leo Wealth LLC boosted its position in Bristol-Myers Squibb by 51.5% during the fourth quarter. Leo Wealth LLC now owns 14,965 shares of the biopharmaceutical company’s stock valued at $846,000 after purchasing an additional 5,085 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $57.43 on Friday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.10. The firm has a 50 day moving average of $57.65 and a 200-day moving average of $53.63. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Equities research analysts expect that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, January 3rd. 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 dividend yield of 4.32%. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

Analyst Ratings Changes

BMY has been the subject of a number of recent research reports. Citigroup raised their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Truist Financial raised their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. BMO Capital Markets upped their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Wolfe Research began coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Finally, Bank of America reiterated a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $57.14.

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.