Parkside Advisors LLC Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

Parkside Advisors LLC reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 31.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,968 shares of the biopharmaceutical company’s stock after selling 1,818 shares during the period. Parkside Advisors LLC’s holdings in Bristol-Myers Squibb were worth $224,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Thoroughbred Financial Services LLC boosted its stake in shares of Bristol-Myers Squibb by 9.5% in the second quarter. Thoroughbred Financial Services LLC now owns 10,353 shares of the biopharmaceutical company’s stock worth $430,000 after acquiring an additional 901 shares during the period. Envestnet Asset Management Inc. grew its holdings in Bristol-Myers Squibb by 1.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,268,887 shares of the biopharmaceutical company’s stock valued at $94,227,000 after buying an additional 34,643 shares in the last quarter. Retirement Planning Co of New England Inc. raised its position in shares of Bristol-Myers Squibb by 4.1% during the second quarter. Retirement Planning Co of New England Inc. now owns 10,634 shares of the biopharmaceutical company’s stock valued at $442,000 after buying an additional 418 shares during the last quarter. Providence Wealth Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 1.9% in the second quarter. Providence Wealth Advisors LLC now owns 30,054 shares of the biopharmaceutical company’s stock worth $1,260,000 after buying an additional 552 shares in the last quarter. Finally, Plato Investment Management Ltd boosted its position in shares of Bristol-Myers Squibb by 25.4% during the second quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock worth $4,317,000 after acquiring an additional 21,041 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Bristol-Myers Squibb Trading Down 0.9 %

Shares of BMY stock traded down $0.51 on Monday, reaching $55.32. 2,327,529 shares of the company’s stock were exchanged, compared to its average volume of 8,960,891. The company’s fifty day simple moving average is $57.44 and its 200 day simple moving average is $51.56. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The stock has a market capitalization of $112.20 billion, a PE ratio of -15.41, a P/E/G ratio of 15.20 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $11.26 billion. During the same period in the prior year, the business posted $2.00 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 annualized dividend and a yield of 4.48%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is -69.08%.

Wall Street Analysts Forecast Growth

Several analysts have commented on BMY shares. Truist Financial boosted their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Wolfe Research initiated coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective on the stock. Finally, Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their target price for the company from $63.00 to $70.00 in a report on Monday, December 16th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $56.27.

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.