Shayne & Jacobs LLC Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

Shayne & Jacobs LLC lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,771 shares of the biopharmaceutical company’s stock after selling 1,742 shares during the quarter. Bristol-Myers Squibb comprises about 0.6% of Shayne & Jacobs LLC’s investment portfolio, making the stock its 24th biggest position. Shayne & Jacobs LLC’s holdings in Bristol-Myers Squibb were worth $2,136,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Reston Wealth Management LLC purchased a new stake in Bristol-Myers Squibb during the 3rd quarter worth about $25,000. Hollencrest Capital Management boosted its stake in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 187 shares during the last quarter. Kennebec Savings Bank purchased a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $28,000. Darwin Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the third quarter valued at approximately $29,000. Finally, Valued Wealth Advisors LLC grew its stake in Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Cantor Fitzgerald lifted their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price objective for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Citigroup lifted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, Truist Financial boosted 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. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Trading Up 0.6 %

BMY opened at $58.25 on Wednesday. The stock has a market capitalization of $118.21 billion, a PE ratio of -13.18, a P/E/G ratio of 2.07 and a beta of 0.45. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.10. The firm’s fifty day moving average price is $57.05 and its 200 day moving average price is $54.56.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were given a dividend of $0.62 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.26%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

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.