Greenwood Capital Associates LLC Reduces Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Greenwood Capital Associates LLC reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,399 shares of the biopharmaceutical company’s stock after selling 4,698 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Bristol-Myers Squibb were worth $1,832,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BMY. Trust Point Inc. raised its stake in Bristol-Myers Squibb by 1.9% in the fourth quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock worth $533,000 after buying an additional 172 shares in the last quarter. Horst & Graben Wealth Management LLC raised its position in shares of Bristol-Myers Squibb by 2.4% in the 4th quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock worth $426,000 after acquiring an additional 179 shares in the last quarter. Meridian Management Co. lifted its stake in shares of Bristol-Myers Squibb by 0.6% in the 3rd quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock valued at $1,463,000 after purchasing an additional 182 shares during the period. Drive Wealth Management LLC boosted its position in shares of Bristol-Myers Squibb by 2.1% during the fourth quarter. Drive Wealth Management LLC now owns 8,878 shares of the biopharmaceutical company’s stock valued at $502,000 after purchasing an additional 182 shares in the last quarter. Finally, Hollencrest Capital Management raised its holdings in Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Down 1.6 %

NYSE:BMY opened at $58.99 on Tuesday. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The firm has a market cap of $119.65 billion, a PE ratio of -16.46, a price-to-earnings-growth ratio of 2.10 and a beta of 0.45. The company has a 50-day moving average of $57.60 and a 200 day moving average of $53.34. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.10.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.20%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -69.08%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BMY. BMO Capital Markets boosted their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. UBS Group raised their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price target for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Finally, TD Cowen lifted their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $56.93.

Bristol-Myers Squibb Company 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.