Treasurer of the State of North Carolina Lowers Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Treasurer of the State of North Carolina lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,050,308 shares of the biopharmaceutical company’s stock after selling 15,910 shares during the period. Treasurer of the State of North Carolina’s holdings in Bristol-Myers Squibb were worth $59,405,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BMY. Fairway Wealth LLC purchased a new position in Bristol-Myers Squibb during the fourth quarter worth approximately $28,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth $34,000. Westend Capital Management LLC purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at $38,000. Tacita Capital Inc acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $39,000. Finally, M Holdings Securities Inc. purchased a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $39,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BMY shares. Cantor Fitzgerald raised their price target 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. Truist Financial lifted their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group restated a “neutral” rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday. Wells Fargo & Company upped their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Finally, Citigroup raised their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $57.67.

Insider Activity at Bristol-Myers Squibb

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 bought at an average price of $54.84 per share, with a total value of $99,973.32. Following the transaction, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $53.80 on Thursday. The company’s 50 day simple moving average is $58.07 and its 200-day simple moving average is $56.73. 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 1 year low of $39.35 and a 1 year high of $63.33. The company has a market capitalization of $109.47 billion, a price-to-earnings ratio of -12.17, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 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%. As a group, equities research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm 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. This represents a $2.48 annualized dividend and a dividend yield of 4.61%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is -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.