Pettee Investors Inc. Sells 480 Shares of Bristol-Myers Squibb (NYSE:BMY)

Pettee Investors Inc. decreased its stake in Bristol-Myers Squibb (NYSE:BMY) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,643 shares of the biopharmaceutical company’s stock after selling 480 shares during the period. Bristol-Myers Squibb accounts for about 1.2% of Pettee Investors Inc.’s holdings, making the stock its 27th biggest position. Pettee Investors Inc.’s holdings in Bristol-Myers Squibb were worth $2,355,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Hollencrest Capital Management raised its position in Bristol-Myers Squibb by 61.3% in the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the period. Kennebec Savings Bank bought a new stake in Bristol-Myers Squibb in the third quarter worth about $28,000. Darwin Wealth Management LLC bought a new stake in Bristol-Myers Squibb in the third quarter worth about $29,000. Dunhill Financial LLC raised its position in Bristol-Myers Squibb by 39.8% in the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 189 shares during the period. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $34,000. Institutional investors own 76.41% of the company’s stock.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was bought at an average price of $54.84 per share, with a total value of $99,973.32. Following the purchase, the executive vice president now owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the topic of several research reports. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. 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. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company boosted their price target on shares of 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. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Price Performance

BMY stock opened at $61.16 on Friday. 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 has a one year low of $39.35 and a one year high of $63.11. The stock has a market cap of $124.11 billion, a PE ratio of -13.84, a P/E/G ratio of 2.07 and a beta of 0.43. The firm has a 50 day simple moving average of $57.39 and a two-hundred day simple moving average of $55.13.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 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 predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.05%. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

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.