UNIVEST FINANCIAL Corp Sells 3,346 Shares of Bristol-Myers Squibb (NYSE:BMY)

UNIVEST FINANCIAL Corp decreased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,140 shares of the biopharmaceutical company’s stock after selling 3,346 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Bristol-Myers Squibb were worth $1,988,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Truist Financial Corp grew its holdings in shares of Bristol-Myers Squibb by 3.9% during the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock worth $90,335,000 after acquiring an additional 60,365 shares during the period. Contravisory Investment Management Inc. bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $488,000. Inspire Trust Co. N.A. grew its stake in 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 worth $5,355,000 after purchasing an additional 29,044 shares during the period. iA Global Asset Management Inc. raised its holdings in 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 worth $3,972,000 after purchasing an additional 34,418 shares in the last quarter. Finally, Bellevue Group AG purchased a new position in Bristol-Myers Squibb during the third quarter valued at $1,905,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $59.18 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 stock’s 50-day simple moving average is $58.42 and its 200-day simple moving average is $56.15. The company has a market capitalization of $120.08 billion, a price-to-earnings ratio of -13.39, a PEG ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly 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%. As a group, analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.19%. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

BMY has been the topic of a number of recent research reports. Wells Fargo & Company upped 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 report on Friday, February 7th. Bank of America reaffirmed a “neutral” rating and set a $63.00 target price 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 stock a “neutral” rating in a research report on Tuesday, January 28th. Truist Financial increased their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their price target for the company from $63.00 to $70.00 in a report on Monday, December 16th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $57.86.

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.