Nisa Investment Advisors LLC Sells 9,417 Shares of Bristol-Myers Squibb (NYSE:BMY)

Nisa Investment Advisors LLC lessened its position in Bristol-Myers Squibb (NYSE:BMY) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 545,533 shares of the biopharmaceutical company’s stock after selling 9,417 shares during the period. Nisa Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $30,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Genesis Private Wealth LLC bought a new position in Bristol-Myers Squibb during the fourth quarter worth about $298,000. Simon Quick Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 32.2% during the 4th quarter. Simon Quick Advisors LLC now owns 9,031 shares of the biopharmaceutical company’s stock worth $511,000 after acquiring an additional 2,201 shares during the period. Aspire Private Capital LLC increased its holdings in shares of Bristol-Myers Squibb by 24.5% during the 4th quarter. Aspire Private Capital LLC now owns 7,642 shares of the biopharmaceutical company’s stock worth $432,000 after acquiring an additional 1,504 shares during the last quarter. Howard Capital Management Group LLC bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $195,000. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in Bristol-Myers Squibb by 0.7% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 2,573,521 shares of the biopharmaceutical company’s stock valued at $145,558,000 after purchasing an additional 17,973 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $57.11 on Thursday. 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 52 week low of $39.35 and a 52 week high of $61.08. The stock has a market capitalization of $115.83 billion, a P/E ratio of -15.91, a price-to-earnings-growth ratio of 1.98 and a beta of 0.45. The stock has a fifty day moving average of $57.42 and a 200-day moving average of $52.33.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates 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 business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.00 earnings per share. On average, sell-side analysts expect that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is presently -69.08%.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BMY. BMO Capital Markets increased their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Truist Financial raised their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued 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 research note on Wednesday, November 13th. Finally, Barclays increased their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $56.27.

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.