Axxcess Wealth Management LLC Sells 5,823 Shares of Bristol-Myers Squibb (NYSE:BMY)

Axxcess Wealth Management LLC lessened its stake in Bristol-Myers Squibb (NYSE:BMY) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,530 shares of the biopharmaceutical company’s stock after selling 5,823 shares during the period. Axxcess Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $3,876,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new stake in Bristol-Myers Squibb during the fourth quarter valued at $318,000. Wealth Architects LLC increased its position in shares of Bristol-Myers Squibb by 5.3% during the 4th quarter. Wealth Architects LLC now owns 5,965 shares of the biopharmaceutical company’s stock valued at $337,000 after purchasing an additional 302 shares during the last quarter. Cozad Asset Management Inc. lifted its stake in shares of Bristol-Myers Squibb by 7.3% in the 4th quarter. Cozad Asset Management Inc. now owns 6,407 shares of the biopharmaceutical company’s stock worth $362,000 after purchasing an additional 435 shares during the period. Horizon Kinetics Asset Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 1.8% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 60,476 shares of the biopharmaceutical company’s stock worth $3,421,000 after buying an additional 1,094 shares during the last quarter. Finally, 1ST Source Bank grew its position in Bristol-Myers Squibb by 1.9% during the fourth quarter. 1ST Source Bank now owns 30,579 shares of the biopharmaceutical company’s stock valued at $1,730,000 after buying an additional 572 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Down 0.1 %

Shares of BMY stock opened at $59.94 on Wednesday. The company’s fifty day simple moving average is $57.93 and its two-hundred day simple moving average is $55.76. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The stock has a market cap of $121.64 billion, a P/E ratio of -13.56, a PEG ratio of 2.07 and a beta of 0.43. 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 (NYSE:BMY) last posted 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 positive return on equity of 13.93% and a negative net margin of 18.53%. Analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were purchased at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BMY shares. Bank of America reiterated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Citigroup boosted their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price objective for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Cantor Fitzgerald boosted their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company raised their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned 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 presently has an average rating of “Hold” and a consensus price target of $57.86.

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.