Summit Financial LLC Sells 1,916 Shares of Bristol-Myers Squibb (NYSE:BMY)

Summit Financial LLC lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 11.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,233 shares of the biopharmaceutical company’s stock after selling 1,916 shares during the period. Summit Financial LLC’s holdings in Bristol-Myers Squibb were worth $805,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $28,000. Dunhill Financial LLC grew its stake in shares of 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 buying an additional 189 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new position in Bristol-Myers Squibb during the 4th quarter valued at approximately $34,000. Westend Capital Management LLC purchased a new position in Bristol-Myers Squibb during the fourth quarter valued at $38,000. Finally, Tacita Capital Inc bought a new stake in Bristol-Myers Squibb in the fourth quarter worth $39,000. 76.41% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Samit Hirawat purchased 1,823 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the transaction, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BMY. Bank of America reaffirmed a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Truist Financial upped their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price target for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Citigroup boosted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Cantor Fitzgerald boosted their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $59.59 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The business’s 50-day simple moving average is $58.74 and its two-hundred day simple moving average is $56.54. The stock has a market cap of $121.25 billion, a PE ratio of -13.48, a P/E/G ratio of 2.07 and a beta of 0.43.

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, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. As a group, analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company 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. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.16%. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

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.