ProVise Management Group LLC Sells 2,681 Shares of Bristol-Myers Squibb (NYSE:BMY)

ProVise Management Group LLC lessened its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 33.7% in the fourth quarter, HoldingsChannel reports. The fund owned 5,284 shares of the biopharmaceutical company’s stock after selling 2,681 shares during the period. ProVise Management Group LLC’s holdings in Bristol-Myers Squibb were worth $299,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Enhancing Capital LLC bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $2,110,000. Xponance Inc. grew its position in Bristol-Myers Squibb by 3.5% during the fourth quarter. Xponance Inc. now owns 333,939 shares of the biopharmaceutical company’s stock worth $18,888,000 after buying an additional 11,370 shares in the last quarter. Boston Partners grew its position in Bristol-Myers Squibb by 15.8% during the fourth quarter. Boston Partners now owns 3,890,966 shares of the biopharmaceutical company’s stock worth $220,088,000 after buying an additional 529,575 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $16,061,000. Finally, Evoke Wealth LLC acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $309,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $60.07 on Thursday. The company has a market capitalization of $121.90 billion, a price-to-earnings ratio of -13.59, a PEG ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The stock has a fifty day simple moving average of $58.00 and a 200 day simple moving average of $55.79. 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 issued its quarterly 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 positive return on equity of 13.93% and a negative net margin of 18.53%. Sell-side analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

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 dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.13%. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BMY shares. Bank of America reissued a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Truist Financial increased their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company increased their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Citigroup increased their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price target for the stock from $63.00 to $70.00 in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $57.86.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was purchased at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

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.