Axxcess Wealth Management LLC Sells 5,823 Shares of Bristol-Myers Squibb (NYSE:BMY)

Axxcess Wealth Management LLC decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,530 shares of the biopharmaceutical company’s stock after selling 5,823 shares during the period. Axxcess Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $3,876,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in BMY. Fairway Wealth LLC bought a new position in Bristol-Myers Squibb during the 4th quarter valued at about $28,000. Darwin Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb during the third quarter valued at approximately $29,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $34,000. Dunhill Financial LLC lifted its stake 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 worth $34,000 after acquiring an additional 189 shares during the last quarter. Finally, Westend Capital Management LLC purchased a new position in Bristol-Myers Squibb during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BMY. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their target price for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Cantor Fitzgerald lifted their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Wells Fargo & Company upped their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Truist Financial lifted their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, 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. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $57.86.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the acquisition, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Price Performance

BMY opened at $59.94 on Wednesday. The firm has a market capitalization of $121.64 billion, a PE ratio of -13.56, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The business’s 50-day moving average is $57.93 and its two-hundred day moving average is $55.76. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.33. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15.

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 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%. Research analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.14%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

About Bristol-Myers Squibb

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.