Ridgecrest Wealth Partners LLC Sells 964 Shares of Bristol-Myers Squibb (NYSE:BMY)

Ridgecrest Wealth Partners LLC reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 10.0% during the 4th quarter, Holdings Channel reports. The fund owned 8,711 shares of the biopharmaceutical company’s stock after selling 964 shares during the period. Ridgecrest Wealth Partners LLC’s holdings in Bristol-Myers Squibb were worth $493,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in BMY. The Manufacturers Life Insurance Company grew its position in shares of Bristol-Myers Squibb by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,681,594 shares of the biopharmaceutical company’s stock worth $69,837,000 after purchasing an additional 40,605 shares in the last quarter. Algert Global LLC acquired a new position in Bristol-Myers Squibb during the second quarter valued at approximately $328,000. Doheny Asset Management CA bought a new stake in Bristol-Myers Squibb during the second quarter worth $372,000. Creative Planning boosted its holdings in shares of Bristol-Myers Squibb by 38.8% in the 2nd quarter. Creative Planning now owns 531,970 shares of the biopharmaceutical company’s stock valued at $22,093,000 after purchasing an additional 148,588 shares in the last quarter. Finally, Silver Lake Advisory LLC increased its stake in shares of Bristol-Myers Squibb by 1.2% in the 2nd quarter. Silver Lake Advisory LLC now owns 29,350 shares of the biopharmaceutical company’s stock valued at $1,219,000 after purchasing an additional 344 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on BMY shares. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. BMO Capital Markets upped their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Truist Financial raised their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Finally, Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target on the stock. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $56.27.

Insider Buying and Selling

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The shares were bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Stock Up 0.9 %

Shares of NYSE:BMY opened at $59.68 on Monday. The business’s 50 day moving average is $57.47 and its 200 day moving average is $52.71. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The stock has a market cap of $121.05 billion, a price-to-earnings ratio of -16.63, a PEG ratio of 2.02 and a beta of 0.45. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the prior year, the company posted $2.00 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.16%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -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.