Berkeley Capital Partners LLC Reduces Position in Bristol-Myers Squibb (NYSE:BMY)

Berkeley Capital Partners LLC cut its position in Bristol-Myers Squibb (NYSE:BMY) by 6.1% during the fourth quarter, HoldingsChannel reports. The firm owned 44,496 shares of the biopharmaceutical company’s stock after selling 2,882 shares during the quarter. Bristol-Myers Squibb accounts for 0.7% of Berkeley Capital Partners LLC’s holdings, making the stock its 22nd biggest position. Berkeley Capital Partners LLC’s holdings in Bristol-Myers Squibb were worth $2,517,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Truist Financial Corp increased its position in shares of Bristol-Myers Squibb by 3.9% in the 4th 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 during the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $488,000. Inspire Trust Co. N.A. increased its position in shares of Bristol-Myers Squibb by 39.0% in the 3rd 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 during the last quarter. iA Global Asset Management Inc. increased its position in shares of Bristol-Myers Squibb by 81.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after purchasing an additional 34,418 shares during the last quarter. Finally, Bellevue Group AG purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at $1,905,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Up 0.3 %

Shares of NYSE BMY opened at $60.07 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The firm has a 50-day moving average price of $58.00 and a 200 day moving average price of $55.79. The stock has a market capitalization of $121.90 billion, a price-to-earnings ratio of -13.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data 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%. Equities research analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Cantor Fitzgerald raised their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Wells Fargo & Company raised their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Bank of America reissued a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Citigroup raised their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price objective for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $57.86.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 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 completion of the transaction, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by company insiders.

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.