Colonial River Investments LLC Sells 570 Shares of Bristol-Myers Squibb (NYSE:BMY)

Colonial River Investments LLC decreased its position in Bristol-Myers Squibb (NYSE:BMY) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,441 shares of the biopharmaceutical company’s stock after selling 570 shares during the quarter. Colonial River Investments LLC’s holdings in Bristol-Myers Squibb were worth $251,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BMY. AMF Tjanstepension AB increased its holdings in shares of Bristol-Myers Squibb by 6.9% during the third quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock valued at $31,618,000 after acquiring an additional 39,419 shares in the last quarter. Swedbank AB increased its holdings in shares of Bristol-Myers Squibb by 0.9% during the third quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock valued at $162,440,000 after acquiring an additional 28,427 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Bristol-Myers Squibb by 12.7% during the third quarter. Assenagon Asset Management S.A. now owns 64,191 shares of the biopharmaceutical company’s stock valued at $3,321,000 after acquiring an additional 7,245 shares in the last quarter. Pettinga Financial Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 8.7% during the third quarter. Pettinga Financial Advisors LLC now owns 11,108 shares of the biopharmaceutical company’s stock valued at $575,000 after acquiring an additional 886 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Bristol-Myers Squibb by 3.7% during the third quarter. Allworth Financial LP now owns 63,211 shares of the biopharmaceutical company’s stock valued at $3,271,000 after acquiring an additional 2,274 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Truist Financial raised their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Wells Fargo & Company increased their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Wolfe Research began coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Finally, Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, twelve 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, the company presently has a consensus rating of “Hold” and a consensus target price of $57.86.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 1,823 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were acquired at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $57.83 on Tuesday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The stock has a market cap of $117.34 billion, a price-to-earnings ratio of -13.08, a PEG ratio of 2.07 and a beta of 0.45. The business has a 50-day simple moving average of $57.03 and a two-hundred day simple moving average of $54.48.

Bristol-Myers Squibb (NYSE:BMY) last issued 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 negative net margin of 18.53% and a positive return on equity of 13.93%. On average, analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were issued a $0.62 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.29%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

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.