Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP trimmed its stake in Bristol-Myers Squibb (NYSE:BMY) by 6.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,063 shares of the biopharmaceutical company’s stock after selling 519 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Bristol-Myers Squibb were worth $456,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Campbell Wealth Management boosted its position in shares of Bristol-Myers Squibb by 217.9% in the fourth quarter. Campbell Wealth Management now owns 20,066 shares of the biopharmaceutical company’s stock worth $1,135,000 after buying an additional 13,753 shares during the period. Asset Planning Inc acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth $1,173,000. Vicus Capital acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth $221,000. V Square Quantitative Management LLC boosted its position in shares of Bristol-Myers Squibb by 3.4% in the fourth quarter. V Square Quantitative Management LLC now owns 45,094 shares of the biopharmaceutical company’s stock worth $2,551,000 after buying an additional 1,462 shares during the period. Finally, DT Investment Partners LLC boosted its position in shares of Bristol-Myers Squibb by 3.9% in the fourth quarter. DT Investment Partners LLC now owns 21,642 shares of the biopharmaceutical company’s stock worth $1,224,000 after buying an additional 811 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the subject of several recent analyst reports. Wolfe Research began coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Truist Financial lifted their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price on the stock. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Finally, Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Stock Down 0.4 %

BMY stock opened at $55.93 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The business has a 50 day moving average price of $57.38 and a two-hundred day moving average price of $54.02. The company has a market cap of $113.44 billion, a price-to-earnings ratio of -12.65, a P/E/G ratio of 2.13 and a beta of 0.45. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.81% and a negative net margin of 18.53%. Analysts anticipate that Bristol-Myers Squibb will post 6.75 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend was Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is -56.11%.

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.