Dana Investment Advisors Inc. Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Dana Investment Advisors Inc. cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 167,907 shares of the biopharmaceutical company’s stock after selling 309 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $9,497,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Truist Financial Corp increased its position in shares of Bristol-Myers Squibb by 3.9% in the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock valued at $90,335,000 after buying an additional 60,365 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $488,000. Inspire Trust Co. N.A. increased its position in shares of Bristol-Myers Squibb by 39.0% in the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock valued at $5,355,000 after buying an additional 29,044 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its position in shares of Bristol-Myers Squibb by 34.3% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after buying an additional 11,387 shares in the last quarter. Finally, iA Global Asset Management Inc. increased its position in shares of 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 buying an additional 34,418 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BMY shares. Bank of America reissued a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price objective for the company from $63.00 to $70.00 in a report on Monday, December 16th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Morgan Stanley increased their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Finally, Citigroup boosted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $57.86.

Insider Buying and Selling

In other news, EVP Samit Hirawat bought 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $54.84 per share, with a total value of $99,973.32. Following the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Stock Up 0.7 %

Shares of NYSE BMY opened at $59.85 on Thursday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.10. The company has a market capitalization of $121.44 billion, a price-to-earnings ratio of -13.54, a price-to-earnings-growth 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. The business has a 50-day moving average of $57.28 and a two-hundred day moving average of $54.97.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share 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%. On average, analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

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.