BigSur Wealth Management LLC Decreases Holdings in Bristol-Myers Squibb (NYSE:BMY)

BigSur Wealth Management LLC cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 55.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,900 shares of the biopharmaceutical company’s stock after selling 29,730 shares during the quarter. BigSur Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $1,352,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Meridian Management Co. lifted its position in Bristol-Myers Squibb by 0.6% during the 3rd quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock worth $1,463,000 after acquiring an additional 182 shares in the last quarter. Hollencrest Capital Management raised its stake in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 187 shares during the period. Dunhill Financial LLC lifted its position in shares of Bristol-Myers Squibb by 39.8% during the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 189 shares in the last quarter. Mayflower Financial Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 2.3% in the third quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company’s stock valued at $438,000 after purchasing an additional 192 shares during the period. Finally, Lakewood Asset Management LLC grew its holdings in Bristol-Myers Squibb by 0.7% during the 4th quarter. Lakewood Asset Management LLC now owns 26,867 shares of the biopharmaceutical company’s stock valued at $1,520,000 after purchasing an additional 195 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

BMY has been the subject of a number of analyst reports. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Truist Financial increased 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. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. UBS Group increased their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, TD Cowen lifted their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $56.27.

Bristol-Myers Squibb Stock Performance

BMY stock opened at $56.35 on Monday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. The stock has a market capitalization of $114.30 billion, a price-to-earnings ratio of -15.70, a PEG ratio of 1.95 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. The stock’s fifty day moving average is $57.53 and its two-hundred day moving average is $52.00.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period last year, the firm posted $2.00 EPS. Bristol-Myers Squibb’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, research analysts predict that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be given a $0.62 dividend. 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 4.40%. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -69.08%.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

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.