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

Sigma Planning Corp decreased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,203 shares of the biopharmaceutical company’s stock after selling 1,103 shares during the period. Sigma Planning Corp’s holdings in Bristol-Myers Squibb were worth $3,122,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Truist Financial Corp lifted its holdings in Bristol-Myers Squibb by 3.9% during the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock worth $90,335,000 after acquiring an additional 60,365 shares during the period. Contravisory Investment Management Inc. bought a new stake in Bristol-Myers Squibb during the fourth quarter worth $488,000. Inspire Trust Co. N.A. lifted its holdings in Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after acquiring an additional 29,044 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its holdings in Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 206 shares during the period. Finally, Sheaff Brock Investment Advisors LLC lifted its holdings in Bristol-Myers Squibb by 34.3% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock worth $2,305,000 after acquiring an additional 11,387 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BMY shares. Wolfe Research started coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Cantor Fitzgerald boosted their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. 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. Finally, Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Stock Up 0.1 %

BMY stock opened at $55.85 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $113.33 billion, a PE ratio of -12.63, a PEG ratio of 2.07 and a beta of 0.45. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.10. The stock has a 50-day simple moving average of $56.99 and a two-hundred day simple moving average of $54.35.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results 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%. On average, equities analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared 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 represents a $2.48 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date was Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

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.