Heritage Wealth Management Inc. Has $463,000 Stake in Bristol-Myers Squibb (NYSE:BMY)

Heritage Wealth Management Inc. trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,183 shares of the biopharmaceutical company’s stock after selling 400 shares during the quarter. Heritage Wealth Management Inc.’s holdings in Bristol-Myers Squibb were worth $463,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp grew its position in shares of Bristol-Myers Squibb by 1.6% in the third quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock valued at $4,806,469,000 after purchasing an additional 1,451,214 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Bristol-Myers Squibb by 3.3% in the third 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 purchasing an additional 1,968,729 shares during the last quarter. FMR LLC grew its position in shares of Bristol-Myers Squibb by 10.5% in the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock valued at $2,325,227,000 after purchasing an additional 4,275,787 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Bristol-Myers Squibb by 2.5% in the third quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company’s stock valued at $2,228,425,000 after purchasing an additional 1,036,495 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Bristol-Myers Squibb by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 24,733,868 shares of the biopharmaceutical company’s stock valued at $1,398,948,000 after purchasing an additional 1,482,410 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $59.71 on Friday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.10. The firm has a 50 day moving average of $57.15 and a 200-day moving average of $54.74. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The stock has a market capitalization of $121.17 billion, a P/E ratio of -13.51, a price-to-earnings-growth ratio of 2.07 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were paid a $0.62 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.15%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is -56.11%.

Insider Activity

In related news, EVP Samit Hirawat acquired 1,823 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the transaction, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BMY shares. Cantor Fitzgerald raised their price target on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Bank of America reissued a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Finally, Morgan Stanley lifted their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, twelve have issued 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, Bristol-Myers Squibb currently 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.