Gladstone Institutional Advisory LLC Lowers Stake in Bristol-Myers Squibb (NYSE:BMY)

Gladstone Institutional Advisory LLC reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,054 shares of the biopharmaceutical company’s stock after selling 5,952 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Bristol-Myers Squibb were worth $3,679,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. TFB Advisors LLC increased its position in Bristol-Myers Squibb by 14.9% during the 4th quarter. TFB Advisors LLC now owns 4,787 shares of the biopharmaceutical company’s stock valued at $271,000 after buying an additional 621 shares in the last quarter. Signet Investment Advisory Group Inc. grew its stake in shares of Bristol-Myers Squibb by 2.3% during the fourth quarter. Signet Investment Advisory Group Inc. now owns 8,261 shares of the biopharmaceutical company’s stock worth $467,000 after acquiring an additional 189 shares during the last quarter. Authentikos Wealth Advisory LLC acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $266,000. Leavell Investment Management Inc. raised its position in shares of Bristol-Myers Squibb by 7.1% in the 4th quarter. Leavell Investment Management Inc. now owns 39,008 shares of the biopharmaceutical company’s stock valued at $2,206,000 after purchasing an additional 2,582 shares during the last quarter. Finally, Portfolio Design Labs LLC boosted its stake in Bristol-Myers Squibb by 34.3% in the 4th quarter. Portfolio Design Labs LLC now owns 50,636 shares of the biopharmaceutical company’s stock worth $2,864,000 after purchasing an additional 12,930 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BMY. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price target for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Wolfe Research began coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Truist Financial increased their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Finally, Citigroup increased their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $55.99 on Wednesday. The company has a fifty day moving average of $57.48 and a two-hundred day moving average of $53.97. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. The stock has a market capitalization of $113.56 billion, a PE ratio of -12.67, a P/E/G ratio of 2.13 and a beta of 0.45. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.81% and a negative net margin of 18.53%. As a group, research analysts forecast that Bristol-Myers Squibb will post 6.75 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.43%. Bristol-Myers Squibb’s payout ratio is presently -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.