Naviter Wealth LLC Trims Stake in Bristol-Myers Squibb (NYSE:BMY)

Naviter Wealth LLC lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 69.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,806 shares of the biopharmaceutical company’s stock after selling 22,727 shares during the period. Naviter Wealth LLC’s holdings in Bristol-Myers Squibb were worth $555,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BMY. Truist Financial Corp grew its holdings in Bristol-Myers Squibb by 3.9% in the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock worth $90,335,000 after purchasing an additional 60,365 shares during the period. Contravisory Investment Management Inc. purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth about $488,000. Inspire Trust Co. N.A. grew its holdings in Bristol-Myers Squibb by 39.0% in the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after purchasing an additional 29,044 shares during the period. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 34.3% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after buying an additional 11,387 shares during the last quarter. Finally, iA Global Asset Management Inc. grew its holdings in shares of Bristol-Myers Squibb by 81.3% during the third quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after buying an additional 34,418 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on BMY. Bank of America reiterated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price target for the company from $63.00 to $70.00 in a report on Monday, December 16th. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price target for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Finally, Citigroup increased their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $57.86.

Insider Activity

In other news, EVP Samit Hirawat acquired 1,823 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $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 through this hyperlink. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Up 1.6 %

BMY opened at $61.16 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.11. The company has a market capitalization of $124.11 billion, a PE ratio of -13.84, a PEG ratio of 2.07 and a beta of 0.43. The firm’s 50 day simple moving average is $57.39 and its two-hundred day simple moving average is $55.13.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping the consensus estimate 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%. As a group, equities analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 4.05%. Bristol-Myers Squibb’s payout ratio is -56.11%.

Bristol-Myers Squibb 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.