Bristol-Myers Squibb (NYSE:BMY) is Bourne Lent Asset Management Inc.’s 9th Largest Position

Bourne Lent Asset Management Inc. lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 147,691 shares of the biopharmaceutical company’s stock after selling 9,501 shares during the quarter. Bristol-Myers Squibb accounts for 3.2% of Bourne Lent Asset Management Inc.’s investment portfolio, making the stock its 9th biggest position. Bourne Lent Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $8,353,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BMY. Meridian Management Co. boosted its stake in shares of Bristol-Myers Squibb by 0.6% during the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock valued at $1,463,000 after purchasing an additional 182 shares during the period. Hollencrest Capital Management boosted its position in Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 187 shares during the period. Dunhill Financial LLC grew its stake in Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 189 shares in the last quarter. Mayflower Financial Advisors LLC increased its position in shares of Bristol-Myers Squibb by 2.3% during the third quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company’s stock worth $438,000 after acquiring an additional 192 shares during the period. Finally, Lakewood Asset Management LLC raised its stake in shares of Bristol-Myers Squibb by 0.7% during the fourth quarter. Lakewood Asset Management LLC now owns 26,867 shares of the biopharmaceutical company’s stock valued at $1,520,000 after acquiring an additional 195 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased 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 directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Phil M. Holzer sold 700 shares of the business’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 transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $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 insiders.

Wall Street Analyst Weigh In

Several research firms have commented on BMY. Sanford C. Bernstein started 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. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price target for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Truist Financial upped their price objective 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. Morgan Stanley raised their target price on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Finally, Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $56.27.

Bristol-Myers Squibb Stock Up 1.3 %

BMY stock opened at $57.01 on Wednesday. The stock has a market capitalization of $115.63 billion, a PE ratio of -15.88, a price-to-earnings-growth ratio of 1.98 and a beta of 0.45. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The firm has a 50 day moving average of $57.46 and a 200 day moving average of $52.20.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.00 earnings per share. Sell-side analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share 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. Stockholders of record on Friday, January 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, January 3rd. 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 dividend yield of 4.35%. Bristol-Myers Squibb’s dividend payout ratio is currently -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.