Belpointe Asset Management LLC Reduces Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Belpointe Asset Management LLC decreased its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 188,441 shares of the biopharmaceutical company’s stock after selling 6,943 shares during the quarter. Bristol-Myers Squibb comprises 0.6% of Belpointe Asset Management LLC’s holdings, making the stock its 24th largest position. Belpointe Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $10,658,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Fairway Wealth LLC acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $28,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $34,000. Westend Capital Management LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $38,000. Tacita Capital Inc purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $39,000. Finally, M Holdings Securities Inc. purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $39,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,823 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the acquisition, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by company insiders.

Bristol-Myers Squibb Stock Up 0.4 %

BMY opened at $50.68 on Monday. Bristol-Myers Squibb has a one year low of $39.35 and a one year 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 stock has a market capitalization of $103.11 billion, a P/E ratio of -11.46, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The business’s 50-day simple moving average is $57.71 and its 200-day simple moving average is $56.78.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS 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%. Analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed 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. This represents a $2.48 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup raised their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Wells Fargo & Company raised 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 note on Friday, February 7th. Cantor Fitzgerald upped their target price on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Finally, Truist Financial upped their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $57.67.

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.