Hudson Valley Investment Advisors Inc. ADV Decreases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Hudson Valley Investment Advisors Inc. ADV trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 15.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,528 shares of the biopharmaceutical company’s stock after selling 1,982 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Bristol-Myers Squibb were worth $596,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. FMR LLC lifted its stake in Bristol-Myers Squibb by 10.5% in the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after purchasing an additional 4,275,787 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Bristol-Myers Squibb by 86.3% in the second quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock worth $313,398,000 after buying an additional 3,495,704 shares during the period. Jennison Associates LLC lifted its stake in shares of Bristol-Myers Squibb by 420.1% during the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock worth $219,443,000 after acquiring an additional 3,425,789 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Bristol-Myers Squibb by 695.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock valued at $183,971,000 after acquiring an additional 3,107,672 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Bristol-Myers Squibb by 18.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock valued at $986,931,000 after acquiring an additional 3,002,418 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BMY. Barclays boosted their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Truist Financial upped their target price 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. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price target for the company from $63.00 to $70.00 in a research note on Monday, December 16th. BMO Capital Markets increased their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 12th. Finally, TD Cowen lifted their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $56.27.

Insider Buying and Selling

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

Bristol-Myers Squibb Trading Down 0.7 %

NYSE:BMY opened at $56.75 on Friday. The firm has a 50 day moving average of $57.41 and a 200 day moving average of $51.34. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The stock has a market capitalization of $115.10 billion, a price-to-earnings ratio of -15.81, a PEG ratio of 15.20 and a beta of 0.45.

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

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -69.08%.

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.