Clear Harbor Asset Management LLC Lowers Position in Bristol-Myers Squibb (NYSE:BMY)

Clear Harbor Asset Management LLC lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,180 shares of the biopharmaceutical company’s stock after selling 1,506 shares during the period. Clear Harbor Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $1,368,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb in the third quarter valued at approximately $25,000. Hollencrest Capital Management boosted its holdings in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 187 shares during the last quarter. Kennebec Savings Bank bought a new position in Bristol-Myers Squibb during the third quarter valued at about $28,000. Darwin Wealth Management LLC purchased a new stake in Bristol-Myers Squibb during the third quarter worth about $29,000. Finally, Valued Wealth Advisors LLC raised its position in Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares during the period. 76.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BMY has been the subject of several research reports. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. UBS Group upped their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Barclays boosted their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, TD Cowen lifted their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $56.27.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $56.35 on Tuesday. The business’s 50-day moving average price is $57.53 and its 200-day moving average price is $52.09. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period last year, the firm posted $2.00 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. Analysts expect that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.40%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

Insider Activity

In other news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The shares were acquired at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate 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.