Jacobi Capital Management LLC Cuts Position in Bristol-Myers Squibb (NYSE:BMY)

Jacobi Capital Management LLC decreased its position in Bristol-Myers Squibb (NYSE:BMY) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,782 shares of the biopharmaceutical company’s stock after selling 3,093 shares during the quarter. Jacobi Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $3,721,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. AMF Tjanstepension AB raised its position in Bristol-Myers Squibb by 6.9% in the third quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock valued at $31,618,000 after purchasing an additional 39,419 shares during the period. Swedbank AB increased its position in shares of Bristol-Myers Squibb by 0.9% during the third quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock worth $162,440,000 after acquiring an additional 28,427 shares during the period. Pettinga Financial Advisors LLC increased its position in shares of Bristol-Myers Squibb by 8.7% during the third quarter. Pettinga Financial Advisors LLC now owns 11,108 shares of the biopharmaceutical company’s stock worth $575,000 after acquiring an additional 886 shares during the period. Valmark Advisers Inc. purchased a new stake in shares of Bristol-Myers Squibb during the third quarter worth $218,000. Finally, First Trust Direct Indexing L.P. increased its position in shares of Bristol-Myers Squibb by 54.8% during the third quarter. First Trust Direct Indexing L.P. now owns 33,428 shares of the biopharmaceutical company’s stock worth $1,730,000 after acquiring an additional 11,831 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the topic of a number of recent research reports. Wells Fargo & Company upped their price objective on 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. Truist Financial upped their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Citigroup upped their price objective on 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, Morgan Stanley boosted their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $57.86.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the purchase, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $59.71 on Friday. 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 has a 1 year low of $39.35 and a 1 year high of $61.10. The company has a market capitalization of $121.17 billion, a PE ratio of -13.51, a P/E/G ratio of 2.07 and a beta of 0.45. The company has a fifty day moving average of $57.15 and a two-hundred day moving average of $54.70.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping 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%. As a group, analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were paid a dividend of $0.62 per share. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.15%. Bristol-Myers Squibb’s dividend payout ratio is -56.11%.

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.