Beacon Financial Group Trims Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Beacon Financial Group lowered its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 14.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,297 shares of the biopharmaceutical company’s stock after selling 722 shares during the quarter. Beacon Financial Group’s holdings in Bristol-Myers Squibb were worth $243,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. AMF Tjanstepension AB lifted its holdings in shares of Bristol-Myers Squibb by 6.9% during the third quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock valued at $31,618,000 after purchasing an additional 39,419 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Bristol-Myers Squibb by 18.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 26,468 shares of the biopharmaceutical company’s stock worth $1,369,000 after buying an additional 4,064 shares during the last quarter. Procyon Advisors LLC lifted its stake in Bristol-Myers Squibb by 3.4% during the 3rd quarter. Procyon Advisors LLC now owns 17,237 shares of the biopharmaceutical company’s stock valued at $891,000 after acquiring an additional 572 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at about $34,000. Finally, Occidental Asset Management LLC grew its stake in shares of Bristol-Myers Squibb by 9.7% in the third quarter. Occidental Asset Management LLC now owns 10,021 shares of the biopharmaceutical company’s stock worth $518,000 after acquiring an additional 886 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Up 0.4 %

Shares of BMY stock opened at $56.17 on Thursday. The company has a market capitalization of $113.92 billion, a price-to-earnings ratio of -12.71, a PEG ratio of 2.13 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. The company’s fifty day moving average price is $57.42 and its 200-day moving average price is $54.00. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.81% and a negative net margin of 18.53%. Sell-side analysts expect that Bristol-Myers Squibb will post 6.75 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were issued a dividend of $0.62 per share. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BMY shares. Bank of America restated a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Truist Financial raised their price target 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. Wells Fargo & Company upped their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price target for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $57.86.

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.