Abacus Planning Group Inc. Sells 2,373 Shares of Bristol-Myers Squibb (NYSE:BMY)

Abacus Planning Group Inc. cut its holdings in Bristol-Myers Squibb (NYSE:BMYFree Report) by 21.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,518 shares of the biopharmaceutical company’s stock after selling 2,373 shares during the period. Abacus Planning Group Inc.’s holdings in Bristol-Myers Squibb were worth $437,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Herold Advisors Inc. raised its holdings in Bristol-Myers Squibb by 3.2% in the 3rd quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock worth $1,954,000 after purchasing an additional 1,051 shares during the period. Osterweis Capital Management Inc. raised its stake in shares of Bristol-Myers Squibb by 69.6% in the second quarter. Osterweis Capital Management Inc. now owns 5,049 shares of the biopharmaceutical company’s stock worth $323,000 after buying an additional 2,072 shares during the period. Kestra Private Wealth Services LLC lifted its position in shares of Bristol-Myers Squibb by 9.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock valued at $8,115,000 after buying an additional 12,121 shares in the last quarter. Metis Global Partners LLC grew its stake in shares of Bristol-Myers Squibb by 14.8% during the 3rd quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock valued at $5,907,000 after acquiring an additional 13,122 shares during the period. Finally, Jmac Enterprises LLC raised its stake in Bristol-Myers Squibb by 11.4% during the 3rd quarter. Jmac Enterprises LLC now owns 12,171 shares of the biopharmaceutical company’s stock worth $706,000 after acquiring an additional 1,245 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Trading Up 1.8 %

BMY stock opened at $54.23 on Friday. The firm has a fifty day moving average price of $50.96 and a 200 day moving average price of $52.40. Bristol-Myers Squibb has a fifty-two week low of $47.58 and a fifty-two week high of $71.07. The firm has a market cap of $109.91 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 1.64 and a beta of 0.38. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last issued its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. The business had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business’s revenue was up .6% on a year-over-year basis. During the same period last year, the company posted $1.82 EPS. Sell-side analysts anticipate that Bristol-Myers Squibb will post 6.61 earnings per share for the current fiscal year.

Bristol-Myers Squibb declared that its board has approved a stock repurchase program on Thursday, December 7th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the biopharmaceutical company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently 62.18%.

Analyst Ratings Changes

A number of equities analysts have weighed in on BMY shares. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. Wells Fargo & Company dropped their target price on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a report on Tuesday, February 6th. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Finally, Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.12.

Get Our Latest Report on BMY

Bristol-Myers Squibb Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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