Transamerica Financial Advisors Inc. Cuts Stake in Bristol-Myers Squibb (NYSE:BMY)

Transamerica Financial Advisors Inc. reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 9.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,824 shares of the biopharmaceutical company’s stock after selling 2,564 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $1,348,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BMY. Fairway Wealth LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter worth $28,000. Dunhill Financial LLC grew its stake in shares of Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 189 shares in the last quarter. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth about $34,000. Westend Capital Management LLC purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $38,000. Finally, Tacita Capital Inc purchased a new position in Bristol-Myers Squibb in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the subject of several analyst reports. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their target price for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Bank of America reissued a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Wells Fargo & Company upped 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. Truist Financial increased their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Citigroup boosted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Two equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Stock Up 2.0 %

Shares of NYSE BMY opened at $60.10 on Friday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The stock’s fifty day simple moving average is $58.55 and its two-hundred day simple moving average is $56.30. The stock has a market capitalization of $121.96 billion, a PE ratio of -13.60, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. As a group, analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be given a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.13%. Bristol-Myers Squibb’s payout ratio is -56.11%.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The shares were acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by corporate insiders.

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.