Colonial River Investments LLC Cuts Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Colonial River Investments LLC trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 11.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,441 shares of the biopharmaceutical company’s stock after selling 570 shares during the quarter. Colonial River Investments LLC’s holdings in Bristol-Myers Squibb were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Wealthspire Advisors LLC boosted its holdings in Bristol-Myers Squibb by 0.6% during the 4th quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock worth $1,622,000 after acquiring an additional 170 shares during the last quarter. Edmp Inc. boosted its holdings in shares of Bristol-Myers Squibb by 0.4% in the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock worth $2,353,000 after buying an additional 171 shares during the last quarter. Trust Point Inc. boosted its holdings in shares of Bristol-Myers Squibb by 1.9% in the 4th quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock worth $533,000 after buying an additional 172 shares during the last quarter. Horst & Graben Wealth Management LLC boosted its holdings 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 buying an additional 179 shares during the last quarter. Finally, Meridian Management Co. boosted its holdings 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 worth $1,463,000 after buying an additional 182 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BMY. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Bank of America reissued a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Wolfe Research started coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Finally, Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $57.86.

Insider Activity

In related news, EVP Samit Hirawat acquired 1,823 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was purchased at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the purchase, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. This trade represents a 2.94 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Up 3.6 %

Shares of BMY opened at $57.83 on Tuesday. The firm has a market cap of $117.34 billion, a P/E ratio of -13.08, a P/E/G ratio of 2.07 and a beta of 0.45. The stock has a 50 day simple moving average of $57.03 and a two-hundred day simple moving average of $54.48. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.10.

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

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend was Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is -56.11%.

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.