Washington Trust Advisors Inc. Sells 589 Shares of Bristol-Myers Squibb (NYSE:BMY)

Washington Trust Advisors Inc. trimmed its stake in Bristol-Myers Squibb (NYSE:BMY) by 8.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,700 shares of the biopharmaceutical company’s stock after selling 589 shares during the period. Washington Trust Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $379,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Beacon Harbor Wealth Advisors Inc. bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $325,000. Inceptionr LLC bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $1,020,000. Townsend Asset Management Corp NC ADV lifted its stake in shares of Bristol-Myers Squibb by 23.7% in the 4th quarter. Townsend Asset Management Corp NC ADV now owns 8,844 shares of the biopharmaceutical company’s stock valued at $500,000 after purchasing an additional 1,694 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $257,618,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $57,000. 76.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BMY shares. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price target for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Bank of America reissued a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Finally, Truist Financial raised 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. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Trading Up 0.7 %

Shares of NYSE:BMY opened at $59.85 on Thursday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.10. The business’s fifty day simple moving average is $57.28 and its 200-day simple moving average is $54.97. The company has a market capitalization of $121.44 billion, a PE ratio of -13.54, a P/E/G ratio of 2.07 and a beta of 0.45. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results 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 positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, equities research analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 4.14%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

Insiders Place Their Bets

In other news, EVP Samit Hirawat purchased 1,823 shares of the 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 owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by insiders.

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.