Sigma Planning Corp Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Sigma Planning Corp reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 2.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 55,203 shares of the biopharmaceutical company’s stock after selling 1,103 shares during the quarter. Sigma Planning Corp’s holdings in Bristol-Myers Squibb were worth $3,122,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BMY. FMR LLC boosted its holdings in shares of Bristol-Myers Squibb by 10.5% in the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after purchasing an additional 4,275,787 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Bristol-Myers Squibb by 420.1% in the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock valued at $219,443,000 after acquiring an additional 3,425,789 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Bristol-Myers Squibb by 695.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock valued at $183,971,000 after acquiring an additional 3,107,672 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Bristol-Myers Squibb by 18.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock valued at $986,931,000 after acquiring an additional 3,002,418 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Bristol-Myers Squibb by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock valued at $3,157,713,000 after acquiring an additional 1,968,729 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BMY. Truist Financial boosted their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Wells Fargo & Company boosted their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Finally, Morgan Stanley upped their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $57.86.

Insider Activity

In related news, EVP Samit Hirawat purchased 1,823 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the transaction, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Trading Up 0.1 %

Shares of Bristol-Myers Squibb stock opened at $55.85 on Friday. The firm has a market cap of $113.33 billion, a price-to-earnings ratio of -12.63, a PEG ratio of 2.07 and a beta of 0.45. The business has a 50-day moving average price of $56.99 and a 200-day moving average price of $54.35. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. 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 issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Equities research analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were given a dividend of $0.62 per share. This is a positive change 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 dividend on an annualized basis and a dividend yield of 4.44%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

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.