Covestor Ltd Sells 1,475 Shares of Bristol-Myers Squibb (NYSE:BMY)

Covestor Ltd decreased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 23.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,843 shares of the biopharmaceutical company’s stock after selling 1,475 shares during the quarter. Covestor Ltd’s holdings in Bristol-Myers Squibb were worth $273,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of BMY. Argent Trust Co increased its position in Bristol-Myers Squibb by 0.8% in the fourth quarter. Argent Trust Co now owns 72,401 shares of the biopharmaceutical company’s stock worth $4,095,000 after purchasing an additional 587 shares during the period. Kennedy Capital Management LLC grew its holdings in Bristol-Myers Squibb by 25.3% during the 4th quarter. Kennedy Capital Management LLC now owns 104,751 shares of the biopharmaceutical company’s stock worth $5,925,000 after acquiring an additional 21,118 shares during the period. Legacy Financial Advisors Inc. raised its position in shares of Bristol-Myers Squibb by 25.0% during the 4th quarter. Legacy Financial Advisors Inc. now owns 12,568 shares of the biopharmaceutical company’s stock valued at $711,000 after acquiring an additional 2,511 shares during the last quarter. Scotia Capital Inc. boosted its position in shares of Bristol-Myers Squibb by 66.1% in the 4th quarter. Scotia Capital Inc. now owns 342,885 shares of the biopharmaceutical company’s stock worth $19,394,000 after purchasing an additional 136,425 shares during the last quarter. Finally, APG Asset Management US Inc. grew its stake in shares of Bristol-Myers Squibb by 42.7% during the fourth quarter. APG Asset Management US Inc. now owns 41,897 shares of the biopharmaceutical company’s stock worth $2,370,000 after purchasing an additional 12,546 shares during the period. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup upped their price target 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. Truist Financial lifted their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday. Cantor Fitzgerald increased their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Wells Fargo & Company lifted their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $57.67.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction on Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, with a total value of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. The trade was a 2.94 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

BMY stock traded down $2.53 during trading hours on Thursday, hitting $51.21. 3,414,580 shares of the stock were exchanged, compared to its average volume of 12,833,607. The firm has a market capitalization of $104.20 billion, a P/E ratio of -11.59, a P/E/G ratio of 2.07 and a beta of 0.41. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The company has a 50-day simple moving average of $58.07 and a two-hundred day simple moving average of $56.73. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

About Bristol-Myers Squibb

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.