Bristol-Myers Squibb (NYSE:BMY) Holdings Trimmed by Estabrook Capital Management

Estabrook Capital Management lowered its holdings in Bristol-Myers Squibb (NYSE:BMY) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,395 shares of the biopharmaceutical company’s stock after selling 400 shares during the period. Estabrook Capital Management’s holdings in Bristol-Myers Squibb were worth $645,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. United Bank lifted its position in shares of Bristol-Myers Squibb by 2.7% in the third quarter. United Bank now owns 17,322 shares of the biopharmaceutical company’s stock worth $896,000 after purchasing an additional 456 shares in the last quarter. Morse Asset Management Inc lifted its position in Bristol-Myers Squibb by 25.0% in the 3rd quarter. Morse Asset Management Inc now owns 10,000 shares of the biopharmaceutical company’s stock worth $517,000 after buying an additional 2,000 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of Bristol-Myers Squibb by 1.5% during the 3rd quarter. MML Investors Services LLC now owns 313,688 shares of the biopharmaceutical company’s stock valued at $16,230,000 after acquiring an additional 4,554 shares in the last quarter. Geller Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 19.1% in the third quarter. Geller Advisors LLC now owns 5,976 shares of the biopharmaceutical company’s stock worth $309,000 after acquiring an additional 958 shares during the last quarter. Finally, LRI Investments LLC raised its holdings in shares of Bristol-Myers Squibb by 58.6% during the third quarter. LRI Investments LLC now owns 4,190 shares of the biopharmaceutical company’s stock worth $217,000 after acquiring an additional 1,548 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were acquired 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 directly owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald raised their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Wells Fargo & Company raised their price objective on shares of 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 boosted their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Bank of America restated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $57.67.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $52.97 on Wednesday. The firm’s 50-day moving average is $58.28 and its 200-day moving average is $56.72. The company has a market cap of $107.78 billion, a price-to-earnings ratio of -11.98, a PEG ratio of 2.07 and a beta of 0.41. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

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.