Inlet Private Wealth LLC Cuts Holdings in Bristol-Myers Squibb (NYSE:BMY)

Inlet Private Wealth LLC lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,988 shares of the biopharmaceutical company’s stock after selling 4,800 shares during the period. Inlet Private Wealth LLC’s holdings in Bristol-Myers Squibb were worth $2,714,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the third quarter valued at about $25,000. Hollencrest Capital Management boosted its holdings in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 187 shares in the last quarter. Kennebec Savings Bank bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $28,000. Darwin Wealth Management LLC purchased a new stake in Bristol-Myers Squibb during the third quarter valued at approximately $29,000. Finally, Valued Wealth Advisors LLC boosted its stake in Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 549 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BMY shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price target for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Barclays boosted their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. UBS Group lifted their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $56.60.

Bristol-Myers Squibb Trading Down 0.5 %

Shares of NYSE:BMY opened at $58.86 on Friday. The company has a market capitalization of $119.38 billion, a PE ratio of -16.40, a PEG ratio of 2.10 and a beta of 0.45. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.10. The business has a 50 day moving average of $57.60 and a two-hundred day moving average of $53.19. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the prior year, the firm posted $2.00 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, analysts forecast that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.21%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -69.08%.

Insider Buying and Selling

In related news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by 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.