Finer Wealth Management Inc. Sells 3,668 Shares of Bristol-Myers Squibb (NYSE:BMY)

Finer Wealth Management Inc. decreased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 18.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,851 shares of the biopharmaceutical company’s stock after selling 3,668 shares during the period. Finer Wealth Management Inc.’s holdings in Bristol-Myers Squibb were worth $897,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BMY. Norges Bank bought a new position in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $1,989,525,000. Wellington Management Group LLP grew its stake in Bristol-Myers Squibb by 3,880.0% in the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock worth $338,088,000 after purchasing an additional 5,827,317 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth about $257,618,000. Schroder Investment Management Group increased its stake in shares of Bristol-Myers Squibb by 49.7% in the 4th quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock worth $639,837,000 after acquiring an additional 3,787,075 shares in the last quarter. Finally, Independent Franchise Partners LLP lifted its position in Bristol-Myers Squibb by 20.8% during the 4th quarter. Independent Franchise Partners LLP now owns 17,129,229 shares of the biopharmaceutical company’s stock valued at $968,829,000 after acquiring an additional 2,944,879 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group dropped their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Truist Financial boosted their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Citigroup raised their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Wells Fargo & Company upped their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, Cantor Fitzgerald raised their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $57.67.

Bristol-Myers Squibb Stock Down 2.7 %

Bristol-Myers Squibb stock opened at $49.98 on Wednesday. The stock has a market cap of $101.70 billion, a PE ratio of -11.31, a price-to-earnings-growth 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. The stock has a fifty day moving average of $57.39 and a 200 day moving average of $56.73. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be paid a $0.62 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 4.96%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The stock was acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the acquisition, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.07% of the stock is owned by insiders.

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.