Avaii Wealth Management LLC Has $643,000 Holdings in Bristol-Myers Squibb (NYSE:BMY)

Avaii Wealth Management LLC trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 6.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,376 shares of the biopharmaceutical company’s stock after selling 744 shares during the period. Avaii Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $643,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Bristol-Myers Squibb by 10.5% in the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock valued at $2,325,227,000 after purchasing an additional 4,275,787 shares during the period. Jennison Associates LLC grew its position in Bristol-Myers Squibb by 420.1% in the third quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock valued at $219,443,000 after acquiring an additional 3,425,789 shares during the period. Janus Henderson Group PLC raised its stake in Bristol-Myers Squibb by 695.1% during the third quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock worth $183,971,000 after acquiring an additional 3,107,672 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Bristol-Myers Squibb by 18.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock valued at $986,931,000 after acquiring an additional 3,002,418 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Bristol-Myers Squibb by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock valued at $3,157,713,000 after purchasing an additional 1,968,729 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Stock Up 0.9 %

Shares of NYSE:BMY opened at $59.68 on Friday. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The stock has a market cap of $121.05 billion, a price-to-earnings ratio of -16.63, a P/E/G ratio of 2.02 and a beta of 0.45. The company has a 50 day moving average of $57.47 and a 200-day moving average of $52.54. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.00 EPS. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.16%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -69.08%.

Insider Transactions at Bristol-Myers Squibb

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their target price for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Morgan Stanley lifted their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Bank of America reissued a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Truist Financial increased their target price 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 equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $56.27.

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.