Fiduciary Group LLC Reduces Stake in Bristol-Myers Squibb (NYSE:BMY)

Fiduciary Group LLC lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,872 shares of the biopharmaceutical company’s stock after selling 2,873 shares during the period. Fiduciary Group LLC’s holdings in Bristol-Myers Squibb were worth $1,181,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Fairway Wealth LLC bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $28,000. Darwin Wealth Management LLC bought a new stake in Bristol-Myers Squibb in the 3rd quarter valued at about $29,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Bristol-Myers Squibb during the fourth quarter valued at about $34,000. Dunhill Financial LLC boosted its position in 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 during the period. Finally, Westend Capital Management LLC bought a new position in Bristol-Myers Squibb during the fourth quarter worth about $38,000. Institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BMY shares. Bank of America reissued a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Cantor Fitzgerald boosted their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price target for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Citigroup boosted their price objective 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. Finally, Truist Financial increased their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $57.86.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the firm’s 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 completion of the purchase, the executive vice president now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Price Performance

BMY stock opened at $60.39 on Friday. The firm has a 50 day simple moving average of $58.07 and a two-hundred day simple moving average of $55.82. The stock has a market cap of $122.56 billion, a PE ratio of -13.66, a P/E/G ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $63.33. 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 (NYSE:BMY) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) 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 predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

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. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.11%. Bristol-Myers Squibb’s dividend payout ratio 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.