Ridgecrest Wealth Partners LLC Has $493,000 Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Ridgecrest Wealth Partners LLC cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,711 shares of the biopharmaceutical company’s stock after selling 964 shares during the period. Ridgecrest Wealth Partners LLC’s holdings in Bristol-Myers Squibb were worth $493,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of BMY. Valued Wealth Advisors LLC lifted its holdings in Bristol-Myers Squibb by 44.5% in the fourth quarter. Valued Wealth Advisors LLC now owns 861 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 265 shares during the period. McLean Asset Management Corp raised its position in shares of Bristol-Myers Squibb by 3.3% during the 4th quarter. McLean Asset Management Corp now owns 6,662 shares of the biopharmaceutical company’s stock valued at $377,000 after acquiring an additional 212 shares during the last quarter. Cornerstone Wealth Group LLC lifted its stake in shares of Bristol-Myers Squibb by 6.8% in the 4th quarter. Cornerstone Wealth Group LLC now owns 14,109 shares of the biopharmaceutical company’s stock valued at $798,000 after purchasing an additional 903 shares during the period. KBC Group NV boosted its position in shares of Bristol-Myers Squibb by 18.4% in the 4th quarter. KBC Group NV now owns 4,054,868 shares of the biopharmaceutical company’s stock worth $229,343,000 after purchasing an additional 628,908 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $312,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity

In related news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction dated Monday, November 4th. The stock was 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 owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Samit Hirawat acquired 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following 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 ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. TD Cowen raised their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the company from $63.00 to $70.00 in a report on Monday, December 16th. Bank of America reiterated a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. BMO Capital Markets boosted their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Finally, Morgan Stanley raised their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $56.27.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $59.68 on Monday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The firm’s 50 day moving average is $57.47 and its 200-day moving average is $52.71. The company has a market capitalization of $121.05 billion, a PE ratio of -16.63, a price-to-earnings-growth ratio of 2.02 and a beta of 0.45. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last issued 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. The firm had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.00 EPS. Equities research analysts anticipate that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.62 per share. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.16%. Bristol-Myers Squibb’s payout ratio is -69.08%.

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.