Bristol-Myers Squibb (NYSE:BMY) Stock Position Reduced by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 30,094 shares of the biopharmaceutical company’s stock after selling 1,916 shares during the period. Atlantic Union Bankshares Corp’s holdings in Bristol-Myers Squibb were worth $1,702,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Truist Financial Corp grew its position in Bristol-Myers Squibb by 3.9% during the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock valued at $90,335,000 after purchasing an additional 60,365 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $488,000. Inspire Trust Co. N.A. grew its position in Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock valued at $5,355,000 after purchasing an additional 29,044 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its position in Bristol-Myers Squibb by 34.3% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after purchasing an additional 11,387 shares in the last quarter. Finally, iA Global Asset Management Inc. lifted its stake in Bristol-Myers Squibb by 81.3% in the third quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after acquiring an additional 34,418 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Cantor Fitzgerald lifted their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Citigroup lifted their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Finally, Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $61.16 on Friday. The stock has a market cap of $124.11 billion, a P/E ratio of -13.84, a PEG ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.11. The company has a fifty day moving average price of $57.39 and a 200 day moving average price of $55.13. 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 (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating the consensus estimate 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%. Analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.05%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the stock in a transaction on Friday, February 14th. The shares were purchased at an average price of $54.84 per share, with a total value of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company’s stock.

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.