SevenBridge Financial Group LLC Lowers Stake in Bristol-Myers Squibb (NYSE:BMY)

SevenBridge Financial Group LLC cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 6.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,116 shares of the biopharmaceutical company’s stock after selling 2,875 shares during the period. SevenBridge Financial Group LLC’s holdings in Bristol-Myers Squibb were worth $2,468,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BMY. United Bank raised its stake in shares of Bristol-Myers Squibb by 2.7% during the third quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock worth $896,000 after acquiring an additional 456 shares in the last quarter. Kestra Investment Management LLC bought a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at $206,000. Aureus Asset Management LLC purchased a new position in Bristol-Myers Squibb in the 3rd quarter worth $253,000. Benjamin Edwards Inc. bought a new stake in Bristol-Myers Squibb in the third quarter worth $5,962,000. Finally, Ascent Group LLC purchased a new stake in Bristol-Myers Squibb during the third quarter valued at about $1,668,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 2.4 %

NYSE BMY opened at $59.53 on Wednesday. The firm has a market capitalization of $121.13 billion, a PE ratio of -13.47, a P/E/G ratio of 2.07 and a beta of 0.43. The stock’s 50 day moving average is $58.69 and its 200 day moving average is $56.52. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 4.17%. Bristol-Myers Squibb’s payout ratio is -56.11%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BMY shares. Citigroup boosted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Wells Fargo & Company boosted their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Truist Financial raised their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald upped their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price target for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $57.86.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,823 shares of the stock in a transaction on Friday, February 14th. The stock was acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the purchase, the executive vice president now owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.