Jacobs & Co. CA Decreases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Jacobs & Co. CA trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,205 shares of the biopharmaceutical company’s stock after selling 264 shares during the quarter. Jacobs & Co. CA’s holdings in Bristol-Myers Squibb were worth $237,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. MGO One Seven LLC grew its holdings in Bristol-Myers Squibb by 7.2% during the 2nd quarter. MGO One Seven LLC now owns 24,427 shares of the biopharmaceutical company’s stock valued at $1,014,000 after purchasing an additional 1,632 shares during the last quarter. Angeles Wealth Management LLC grew its holdings in Bristol-Myers Squibb by 4.5% during the 2nd quarter. Angeles Wealth Management LLC now owns 9,195 shares of the biopharmaceutical company’s stock valued at $382,000 after purchasing an additional 392 shares during the last quarter. HHM Wealth Advisors LLC grew its holdings in Bristol-Myers Squibb by 53.5% during the 2nd quarter. HHM Wealth Advisors LLC now owns 3,018 shares of the biopharmaceutical company’s stock valued at $125,000 after purchasing an additional 1,052 shares during the last quarter. Perritt Capital Management Inc grew its holdings in Bristol-Myers Squibb by 17.0% during the 2nd quarter. Perritt Capital Management Inc now owns 8,832 shares of the biopharmaceutical company’s stock valued at $367,000 after purchasing an additional 1,285 shares during the last quarter. Finally, Qsemble Capital Management LP bought a new position in Bristol-Myers Squibb during the 2nd quarter valued at about $1,054,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BMY shares. BMO Capital Markets upped their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 12th. Bank of America reiterated a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. UBS Group increased their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Truist Financial increased their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $56.27.

Insider Transactions at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction on 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 purchase, 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 purchase was disclosed in a document filed 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 transaction of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Performance

BMY stock traded down $0.59 during midday trading on Friday, hitting $56.22. 5,462,802 shares of the stock traded hands, compared to its average volume of 9,376,897. The stock’s fifty day simple moving average is $57.41 and its 200-day simple moving average is $51.34. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08. The firm has a market cap of $114.02 billion, a P/E ratio of -15.66, a PEG ratio of 15.20 and a beta of 0.45. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) 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 business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same quarter last year, the business earned $2.00 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be paid a $0.62 dividend. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -69.08%.

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.