Penobscot Investment Management Company Inc. Sells 498 Shares of Bristol-Myers Squibb (NYSE:BMY)

Penobscot Investment Management Company Inc. decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,630 shares of the biopharmaceutical company’s stock after selling 498 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Bristol-Myers Squibb were worth $827,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. United Bank lifted its stake in shares of Bristol-Myers Squibb by 2.7% during the 3rd quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock worth $896,000 after purchasing an additional 456 shares during the last quarter. Centaurus Financial Inc. lifted its position in shares of Bristol-Myers Squibb by 21.3% during the third quarter. Centaurus Financial Inc. now owns 10,919 shares of the biopharmaceutical company’s stock valued at $565,000 after buying an additional 1,920 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $133,000. Loomis Sayles & Co. L P grew its position in shares of Bristol-Myers Squibb by 29.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 277,599 shares of the biopharmaceutical company’s stock worth $14,363,000 after buying an additional 62,602 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Bristol-Myers Squibb by 1.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,711,074 shares of the biopharmaceutical company’s stock worth $88,531,000 after acquiring an additional 29,480 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Truist Financial raised their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their target price for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Citigroup increased their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Bank of America restated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company increased their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $57.86.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the transaction, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $59.18 on Thursday. The firm’s fifty day moving average is $58.42 and its two-hundred day moving average is $56.15. The firm has a market cap of $120.08 billion, a price-to-earnings ratio of -13.39, a PEG ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping the consensus estimate 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%. Research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.19%. Bristol-Myers Squibb’s dividend payout ratio is presently -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.