Quadrant Private Wealth Management LLC Sells 2,459 Shares of Bristol-Myers Squibb (NYSE:BMY)

Quadrant Private Wealth Management LLC lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 14.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,539 shares of the biopharmaceutical company’s stock after selling 2,459 shares during the period. Quadrant Private Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $822,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank Pictet & Cie Europe AG bought a new position in Bristol-Myers Squibb during the 4th quarter valued at approximately $13,094,000. Valeo Financial Advisors LLC boosted its stake in Bristol-Myers Squibb by 8.4% during the 4th quarter. Valeo Financial Advisors LLC now owns 53,919 shares of the biopharmaceutical company’s stock valued at $3,050,000 after purchasing an additional 4,186 shares during the last quarter. Roman Butler Fullerton & Co. boosted its stake in Bristol-Myers Squibb by 33.8% during the 4th quarter. Roman Butler Fullerton & Co. now owns 18,696 shares of the biopharmaceutical company’s stock valued at $1,133,000 after purchasing an additional 4,718 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Bristol-Myers Squibb by 0.7% during the 4th quarter. New York State Teachers Retirement System now owns 1,848,908 shares of the biopharmaceutical company’s stock valued at $104,574,000 after purchasing an additional 12,574 shares during the last quarter. Finally, Campbell Wealth Management boosted its stake in Bristol-Myers Squibb by 217.9% during the 4th quarter. Campbell Wealth Management now owns 20,066 shares of the biopharmaceutical company’s stock valued at $1,135,000 after purchasing an additional 13,753 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $53.85 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The company has a market capitalization of $109.22 billion, a price-to-earnings ratio of -12.18, a PEG ratio of 2.13 and a beta of 0.45. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10. The stock’s 50-day simple moving average is $57.32 and its 200-day simple moving average is $54.03.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates 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, analysts expect that Bristol-Myers Squibb will post 6.75 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.62 per share. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend was Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

Analyst Ratings Changes

Several analysts have commented on the company. Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Morgan Stanley raised their price target 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. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. 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. Finally, Leerink Partners upgraded 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. 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 issued a strong buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Company 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.