Patten & Patten Inc. TN Sells 6,728 Shares of Bristol-Myers Squibb (NYSE:BMY)

Patten & Patten Inc. TN lowered its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,551 shares of the biopharmaceutical company’s stock after selling 6,728 shares during the quarter. Patten & Patten Inc. TN’s holdings in Bristol-Myers Squibb were worth $4,047,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sovereign Investment Advisors LLC bought a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $295,000. Harbour Investments Inc. raised its position in Bristol-Myers Squibb by 0.8% during the fourth quarter. Harbour Investments Inc. now owns 29,302 shares of the biopharmaceutical company’s stock valued at $1,657,000 after purchasing an additional 235 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Bristol-Myers Squibb by 15.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 241,517 shares of the biopharmaceutical company’s stock valued at $13,660,000 after purchasing an additional 31,884 shares during the last quarter. one8zero8 LLC bought a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $2,001,000. Finally, Globeflex Capital L P purchased a new stake in Bristol-Myers Squibb during the 4th quarter valued at $34,062,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BMY shares. Wells Fargo & Company boosted their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Bank of America reissued a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Truist Financial boosted their target price 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. Cantor Fitzgerald increased their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Citigroup boosted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $57.86.

Insider Activity 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 on Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $59.01 on Friday. The company has a market cap of $119.75 billion, a PE ratio of -13.35, a P/E/G ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The firm’s 50 day moving average price is $57.81 and its 200-day moving average price is $55.57.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping 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%. Sell-side 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 declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.20%. Bristol-Myers Squibb’s dividend 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.