Congress Wealth Management LLC DE Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Congress Wealth Management LLC DE reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 11.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 167,347 shares of the biopharmaceutical company’s stock after selling 22,622 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Bristol-Myers Squibb were worth $9,465,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth approximately $43,000. Vanguard Group Inc. raised its stake in shares of Bristol-Myers Squibb by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock valued at $10,743,262,000 after acquiring an additional 1,373,209 shares in the last quarter. Paces Ferry Wealth Advisors LLC purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at $274,000. Richwood Investment Advisors LLC grew its stake in Bristol-Myers Squibb by 6.5% during the 4th quarter. Richwood Investment Advisors LLC now owns 12,348 shares of the biopharmaceutical company’s stock worth $698,000 after purchasing an additional 750 shares in the last quarter. Finally, Heron Bay Capital Management increased its holdings in Bristol-Myers Squibb by 2.1% during the 4th quarter. Heron Bay Capital Management now owns 10,795 shares of the biopharmaceutical company’s stock worth $611,000 after purchasing an additional 220 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The stock was bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock opened at $61.09 on Tuesday. The stock has a market capitalization of $123.98 billion, a price-to-earnings ratio of -13.82, a PEG ratio of 2.07 and a beta of 0.43. The firm’s fifty day simple moving average is $58.29 and its 200-day simple moving average is $56.05. 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 has a 12 month low of $39.35 and a 12 month high of $63.33.

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

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Analysts Set New Price Targets

A number of brokerages have recently commented on BMY. Citigroup boosted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Bank of America reaffirmed a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Cantor Fitzgerald increased their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Truist Financial lifted their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $57.86.

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.