Worth Asset Management LLC Has $583,000 Holdings in Bristol-Myers Squibb (NYSE:BMY)

Worth Asset Management LLC reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 74.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,309 shares of the biopharmaceutical company’s stock after selling 30,202 shares during the period. Worth Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $583,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Inspire Trust Co. N.A. boosted its holdings in Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after purchasing an additional 29,044 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in Bristol-Myers Squibb by 3.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after buying an additional 206 shares during the period. Sheaff Brock Investment Advisors LLC raised its holdings in Bristol-Myers Squibb by 34.3% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after acquiring an additional 11,387 shares in the last quarter. iA Global Asset Management Inc. increased its stake in Bristol-Myers Squibb by 81.3% in the third quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after acquiring an additional 34,418 shares during the last quarter. Finally, Bellevue Group AG bought a new position in Bristol-Myers Squibb in the third quarter valued at about $1,905,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BMY shares. UBS Group boosted their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Wolfe Research initiated coverage on Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Truist Financial raised their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price target for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, thirteen have given 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.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $56.27.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. The trade was a 5.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction on Friday, November 1st. The stock was bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Down 1.8 %

Bristol-Myers Squibb stock traded down $1.03 during mid-day trading on Wednesday, reaching $56.11. The stock had a trading volume of 5,185,158 shares, compared to its average volume of 8,745,409. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08. The stock’s 50-day simple moving average is $57.31 and its 200-day simple moving average is $51.26. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The firm has a market capitalization of $113.80 billion, a PE ratio of -15.63, a price-to-earnings-growth ratio of 15.20 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $2.00 earnings per share. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be given a $0.62 dividend. 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 is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

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.