Ferguson Wellman Capital Management Inc. Reduces Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Ferguson Wellman Capital Management Inc. decreased its position in Bristol-Myers Squibb (NYSE:BMY) by 5.3% in the 4th quarter, Holdings Channel reports. The fund owned 52,692 shares of the biopharmaceutical company’s stock after selling 2,929 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $2,980,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Savant Capital LLC lifted its holdings in Bristol-Myers Squibb by 1.3% in the 4th quarter. Savant Capital LLC now owns 96,631 shares of the biopharmaceutical company’s stock worth $5,465,000 after buying an additional 1,231 shares in the last quarter. Angeles Wealth Management LLC increased its position in shares of Bristol-Myers Squibb by 8.5% during the fourth quarter. Angeles Wealth Management LLC now owns 13,414 shares of the biopharmaceutical company’s stock worth $759,000 after acquiring an additional 1,056 shares during the last quarter. Stiles Financial Services Inc lifted its stake in shares of Bristol-Myers Squibb by 2.0% in the fourth quarter. Stiles Financial Services Inc now owns 25,248 shares of the biopharmaceutical company’s stock worth $1,428,000 after acquiring an additional 501 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at about $57,000. Finally, Kestra Private Wealth Services LLC grew its stake in Bristol-Myers Squibb by 2.5% during the 4th quarter. Kestra Private Wealth Services LLC now owns 167,012 shares of the biopharmaceutical company’s stock valued at $9,446,000 after purchasing an additional 4,089 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $56.96 on Monday. The stock’s fifty day moving average is $57.56 and its two-hundred day moving average is $53.83. The stock has a market capitalization of $115.51 billion, a price-to-earnings ratio of -12.89, a PEG ratio of 2.13 and a beta of 0.45. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (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 13.81%. On average, research analysts predict that Bristol-Myers Squibb will post 6.75 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were issued a $0.62 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.35%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday. Truist Financial increased their price objective 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. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Bank of America reaffirmed a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Finally, Cantor Fitzgerald boosted their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $57.86.

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.