Lmcg Investments LLC Has $321,000 Stake in Bristol-Myers Squibb (NYSE:BMY)

Lmcg Investments LLC lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,673 shares of the biopharmaceutical company’s stock after selling 1,419 shares during the quarter. Lmcg Investments LLC’s holdings in Bristol-Myers Squibb were worth $321,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Legal Advantage Investments Inc. bought a new stake in Bristol-Myers Squibb during the fourth quarter worth about $220,000. ARS Investment Partners LLC lifted its holdings in shares of Bristol-Myers Squibb by 2.4% during the 4th quarter. ARS Investment Partners LLC now owns 21,685 shares of the biopharmaceutical company’s stock worth $1,227,000 after acquiring an additional 500 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of Bristol-Myers Squibb by 3.0% during the 4th quarter. Crossmark Global Holdings Inc. now owns 190,814 shares of the biopharmaceutical company’s stock worth $10,793,000 after acquiring an additional 5,488 shares in the last quarter. Ballentine Partners LLC increased its stake in Bristol-Myers Squibb by 3.9% in the fourth quarter. Ballentine Partners LLC now owns 40,553 shares of the biopharmaceutical company’s stock valued at $2,294,000 after acquiring an additional 1,508 shares during the last quarter. Finally, Pure Financial Advisors LLC lifted its stake in Bristol-Myers Squibb by 48.2% during the fourth quarter. Pure Financial Advisors LLC now owns 7,808 shares of the biopharmaceutical company’s stock worth $442,000 after purchasing an additional 2,538 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BMY shares. Truist Financial boosted 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. TD Cowen boosted their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. BMO Capital Markets raised their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Citigroup increased their price objective on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley boosted their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $56.27.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $57.01 on Wednesday. The stock has a market capitalization of $115.63 billion, a PE ratio of -15.88, a PEG ratio of 1.98 and a beta of 0.45. The business’s 50 day simple moving average is $57.46 and its 200 day simple moving average is $52.20. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.31. The company 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%. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.00 earnings per share. As a group, research analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.35%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

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.