Patriot Financial Group Insurance Agency LLC Sells 620 Shares of Bristol-Myers Squibb (NYSE:BMY)

Patriot Financial Group Insurance Agency LLC cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 11.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,975 shares of the biopharmaceutical company’s stock after selling 620 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Bristol-Myers Squibb were worth $281,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BMY. Reston Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management raised its holdings in Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares in the last quarter. Kennebec Savings Bank purchased a new position in Bristol-Myers Squibb during the third quarter valued at $28,000. Darwin Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at $29,000. Finally, Valued Wealth Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly 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 document filed with the SEC, which is available at this link. Also, EVP Samit Hirawat bought 1,830 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Trading Up 0.6 %

Shares of BMY stock opened at $59.11 on Thursday. 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 has a 12-month low of $39.35 and a 12-month high of $61.10. The stock has a market capitalization of $119.88 billion, a P/E ratio of -16.46, a P/E/G ratio of 2.02 and a beta of 0.45. The firm’s 50 day moving average is $57.56 and its 200 day moving average is $52.97.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the previous year, the company posted $2.00 earnings per share. Bristol-Myers Squibb’s revenue was up 8.4% compared to the same quarter last year. Research analysts expect that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BMY shares. TD Cowen boosted their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price target for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Morgan Stanley raised their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Finally, Truist Financial raised their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $56.60.

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.