Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Shayne & Jacobs LLC

Shayne & Jacobs LLC lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 4.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 37,771 shares of the biopharmaceutical company’s stock after selling 1,742 shares during the period. Bristol-Myers Squibb accounts for approximately 0.6% of Shayne & Jacobs LLC’s holdings, making the stock its 24th biggest position. Shayne & Jacobs LLC’s holdings in Bristol-Myers Squibb were worth $2,136,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wealthspire Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 0.6% in the fourth quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock worth $1,622,000 after buying an additional 170 shares during the period. Edmp Inc. increased its position in Bristol-Myers Squibb by 0.4% in the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock worth $2,353,000 after purchasing an additional 171 shares during the last quarter. Trust Point Inc. lifted its holdings in shares of Bristol-Myers Squibb by 1.9% during the 4th quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock valued at $533,000 after buying an additional 172 shares during the last quarter. Horst & Graben Wealth Management LLC grew its stake in shares of Bristol-Myers Squibb by 2.4% in the 4th quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock valued at $426,000 after buying an additional 179 shares in the last quarter. Finally, Meridian Management Co. increased its holdings in Bristol-Myers Squibb by 0.6% in the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock worth $1,463,000 after buying an additional 182 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BMY. 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. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their target price for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Morgan Stanley boosted their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price objective for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Finally, Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average price target of $57.86.

Insiders Place Their Bets

In related news, EVP Samit Hirawat purchased 1,823 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the acquisition, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.6 %

Shares of BMY opened at $58.25 on Wednesday. The company has a 50-day moving average price of $57.05 and a two-hundred day moving average price of $54.56. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The stock has a market cap of $118.21 billion, a price-to-earnings ratio of -13.18, a P/E/G ratio of 2.07 and a beta of 0.45. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 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 13.93%. Equities analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed 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 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend was Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -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.