GAM Holding AG Sells 39,363 Shares of Bristol-Myers Squibb (NYSE:BMY)

GAM Holding AG reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 16.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 202,646 shares of the biopharmaceutical company’s stock after selling 39,363 shares during the period. GAM Holding AG’s holdings in Bristol-Myers Squibb were worth $11,462,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS raised its position in shares of Bristol-Myers Squibb by 5.2% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 306,517 shares of the biopharmaceutical company’s stock worth $17,337,000 after purchasing an additional 15,130 shares during the period. Venturi Wealth Management LLC lifted its position in Bristol-Myers Squibb by 107.9% during the 4th quarter. Venturi Wealth Management LLC now owns 6,025 shares of the biopharmaceutical company’s stock worth $341,000 after buying an additional 3,127 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Bristol-Myers Squibb by 1.9% in the fourth quarter. D.A. Davidson & CO. now owns 386,277 shares of the biopharmaceutical company’s stock valued at $21,848,000 after acquiring an additional 7,343 shares during the last quarter. Citizens & Northern Corp raised its stake in shares of Bristol-Myers Squibb by 35.7% during the 4th quarter. Citizens & Northern Corp now owns 19,120 shares of the biopharmaceutical company’s stock worth $1,081,000 after purchasing an additional 5,026 shares in the last quarter. Finally, Truist Financial Corp raised its position in Bristol-Myers Squibb by 3.9% during the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock worth $90,335,000 after acquiring an additional 60,365 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 3.8 %

Shares of BMY stock opened at $53.85 on Tuesday. The stock has a market cap of $109.22 billion, a price-to-earnings ratio of -12.18, a PEG ratio of 2.13 and a beta of 0.45. The stock has a 50-day moving average of $57.21 and a 200-day moving average of $54.15. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.81% and a negative net margin of 18.53%. On average, equities research analysts forecast that Bristol-Myers Squibb will post 6.75 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.61%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BMY shares. Wells Fargo & Company boosted their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. BMO Capital Markets lifted their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Cantor Fitzgerald boosted their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Company 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.