Wesbanco Bank Inc. Has $14.80 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Wesbanco Bank Inc. reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 261,577 shares of the biopharmaceutical company’s stock after selling 7,599 shares during the period. Wesbanco Bank Inc.’s holdings in Bristol-Myers Squibb were worth $14,795,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Bristol-Myers Squibb by 1.6% in the 3rd quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock worth $4,806,469,000 after purchasing an additional 1,451,214 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Bristol-Myers Squibb by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock valued at $3,157,713,000 after acquiring an additional 1,968,729 shares in the last quarter. FMR LLC lifted its stake in Bristol-Myers Squibb by 10.5% during the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock valued at $2,325,227,000 after acquiring an additional 4,275,787 shares in the last quarter. Geode Capital Management LLC lifted its stake in Bristol-Myers Squibb by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company’s stock valued at $2,228,425,000 after acquiring an additional 1,036,495 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Bristol-Myers Squibb by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock valued at $839,946,000 after acquiring an additional 735,613 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Trading Up 0.1 %

Shares of NYSE:BMY opened at $57.11 on Thursday. The company has a market cap of $115.83 billion, a P/E ratio of -15.91, a PEG ratio of 1.98 and a beta of 0.45. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. The stock’s fifty day moving average price is $57.42 and its 200-day moving average price is $52.33.

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

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be given a $0.62 dividend. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.34%. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BMY. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Truist Financial raised their price objective 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. Morgan Stanley raised their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. BMO Capital Markets raised their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Finally, TD Cowen raised their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, thirteen have given 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 a consensus rating of “Hold” and an average target price of $56.27.

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.