Argent Trust Co Increases Holdings in Bristol-Myers Squibb (NYSE:BMY)

Argent Trust Co increased its position in Bristol-Myers Squibb (NYSE:BMY) by 0.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 72,401 shares of the biopharmaceutical company’s stock after acquiring an additional 587 shares during the quarter. Argent Trust Co’s holdings in Bristol-Myers Squibb were worth $4,095,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BMY. Fairway Wealth LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $28,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $34,000. Westend Capital Management LLC bought a new position in Bristol-Myers Squibb in the fourth quarter worth $38,000. Tacita Capital Inc bought a new position in Bristol-Myers Squibb in the fourth quarter worth $39,000. Finally, M Holdings Securities Inc. purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 3.5 %

Shares of Bristol-Myers Squibb stock traded down $1.90 during trading on Thursday, reaching $51.84. 1,891,494 shares of the company traded hands, compared to its average volume of 12,828,450. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The company has a 50 day moving average price of $58.07 and a 200-day moving average price of $56.73. The firm has a market capitalization of $105.49 billion, a PE ratio of -11.73, a P/E/G ratio of 2.07 and a beta of 0.41.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating 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%. As a group, equities research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the transaction, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the topic of several recent research reports. Truist Financial raised their price objective 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. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Citigroup lifted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group reissued a “neutral” rating and set a $55.00 target price (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday. Finally, Wells Fargo & Company lifted 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. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $57.67.

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.