Forza Wealth Management LLC Trims Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Forza Wealth Management LLC cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,075 shares of the biopharmaceutical company’s stock after selling 548 shares during the period. Forza Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $1,135,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of BMY. Inspire Trust Co. N.A. boosted its holdings in 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 worth $5,355,000 after buying an additional 29,044 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Bristol-Myers Squibb by 3.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 206 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 34.3% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock worth $2,305,000 after purchasing an additional 11,387 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in shares of Bristol-Myers Squibb by 81.3% during the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock worth $3,972,000 after purchasing an additional 34,418 shares during the last quarter. Finally, Bellevue Group AG purchased a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at approximately $1,905,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The stock was bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Stock Performance

NYSE BMY traded down $0.38 during trading hours on Monday, hitting $55.45. The company had a trading volume of 4,028,417 shares, compared to its average volume of 9,204,139. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The company has a market cap of $112.46 billion, a PE ratio of -15.45, a price-to-earnings-growth ratio of 15.20 and a beta of 0.45. The business has a 50 day moving average of $57.44 and a 200-day moving average of $51.56.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.00 earnings per share. As a group, equities research analysts expect that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be issued a dividend of $0.62 per share. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is currently -69.08%.

Analyst Ratings Changes

BMY has been the topic of several analyst reports. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Wolfe Research initiated coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Bank of America reissued a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $56.27.

About Bristol-Myers Squibb

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.