Pettee Investors Inc. Cuts Stake in Bristol-Myers Squibb (NYSE:BMY)

Pettee Investors Inc. decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 1.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 41,643 shares of the biopharmaceutical company’s stock after selling 480 shares during the period. Bristol-Myers Squibb makes up approximately 1.2% of Pettee Investors Inc.’s investment portfolio, making the stock its 27th biggest position. Pettee Investors Inc.’s holdings in Bristol-Myers Squibb were worth $2,355,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the business. State Street Corp raised its holdings in Bristol-Myers Squibb by 1.6% during the 3rd quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock valued at $4,806,469,000 after buying an additional 1,451,214 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 buying an additional 1,968,729 shares during the last quarter. FMR LLC raised its holdings 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 buying an additional 4,275,787 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 buying an additional 1,036,495 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Bristol-Myers Squibb by 6.4% during the 4th 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 buying an additional 1,482,410 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average cost of $54.84 per share, with a total value 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 trade represents a 2.94 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Bank of America reiterated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Truist Financial upped their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, Morgan Stanley upped their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Stock Up 1.6 %

Shares of Bristol-Myers Squibb stock opened at $61.16 on Friday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. The company has a 50-day moving average of $57.39 and a 200 day moving average of $55.13. The firm has a market cap of $124.11 billion, a price-to-earnings ratio of -13.84, a PEG ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.11.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors 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 4.05%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -56.11%.

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.