Bristol-Myers Squibb (NYSE:BMY) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.3% in the 4th quarter, HoldingsChannel reports. The firm owned 34,464 shares of the biopharmaceutical company’s stock after selling 459 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Bristol-Myers Squibb were worth $1,949,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Swedbank AB raised its holdings in Bristol-Myers Squibb by 0.9% in the 3rd quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock valued at $162,440,000 after acquiring an additional 28,427 shares during the last quarter. Pettinga Financial Advisors LLC raised its holdings in Bristol-Myers Squibb by 8.7% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 11,108 shares of the biopharmaceutical company’s stock valued at $575,000 after acquiring an additional 886 shares during the last quarter. United Bank raised its holdings in Bristol-Myers Squibb by 2.7% in the 3rd quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock valued at $896,000 after acquiring an additional 456 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Bristol-Myers Squibb by 116.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,898 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 1,558 shares during the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of Bristol-Myers Squibb by 3.6% during the 3rd quarter. Harbour Investments Inc. now owns 29,067 shares of the biopharmaceutical company’s stock worth $1,504,000 after buying an additional 1,011 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on BMY shares. Wells Fargo & Company upped their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Bank of America restated a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Cantor Fitzgerald upped their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Truist Financial upped their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Citigroup upped their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $60.22 on Friday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The firm has a 50-day moving average of $57.76 and a two-hundred day moving average of $55.44. The stock has a market cap of $122.21 billion, a P/E ratio of -13.63, a PEG ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share 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 expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.12%. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Insider Activity

In related news, EVP Samit Hirawat bought 1,823 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. This trade represents a 2.94 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.

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.