Douglas Lane & Associates LLC Cuts Position in Bristol-Myers Squibb (NYSE:BMY)

Douglas Lane & Associates LLC reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,714,269 shares of the biopharmaceutical company’s stock after selling 84,824 shares during the period. Bristol-Myers Squibb makes up approximately 1.4% of Douglas Lane & Associates LLC’s portfolio, making the stock its 17th largest position. Douglas Lane & Associates LLC’s holdings in Bristol-Myers Squibb were worth $96,959,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. InvesTrust purchased a new position in Bristol-Myers Squibb in the 4th quarter valued at approximately $6,466,000. Fulton Bank N.A. grew its holdings in Bristol-Myers Squibb by 5.2% in the fourth quarter. Fulton Bank N.A. now owns 62,249 shares of the biopharmaceutical company’s stock valued at $3,521,000 after purchasing an additional 3,062 shares during the last quarter. Weaver Consulting Group purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at $202,000. Range Financial Group LLC raised its stake in shares of Bristol-Myers Squibb by 763.1% during the 4th quarter. Range Financial Group LLC now owns 49,195 shares of the biopharmaceutical company’s stock worth $2,782,000 after buying an additional 43,495 shares during the last quarter. Finally, First County Bank CT boosted its position in shares of Bristol-Myers Squibb by 18.0% in the 4th quarter. First County Bank CT now owns 19,433 shares of the biopharmaceutical company’s stock worth $1,099,000 after buying an additional 2,967 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on BMY shares. Citigroup lifted their target price on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Bank of America restated a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. BMO Capital Markets boosted their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Finally, Truist Financial increased their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.27.

Bristol-Myers Squibb Trading Down 1.0 %

Shares of BMY stock traded down $0.58 on Wednesday, reaching $56.56. 6,108,878 shares of the stock were exchanged, compared to its average volume of 8,962,421. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The stock has a market cap of $114.71 billion, a P/E ratio of -15.75, a price-to-earnings-growth ratio of 15.20 and a beta of 0.45. The firm has a 50 day moving average of $57.31 and a two-hundred day moving average of $51.26. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period last year, the business posted $2.00 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, research analysts anticipate that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.62 per share. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.38%. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

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.