Slagle Financial LLC Reduces Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Slagle Financial LLC decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 66.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 16,326 shares of the biopharmaceutical company’s stock after selling 32,251 shares during the quarter. Slagle Financial LLC’s holdings in Bristol-Myers Squibb were worth $923,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. denkapparat Operations GmbH purchased a new stake in Bristol-Myers Squibb during the 4th quarter worth about $834,000. Orion Portfolio Solutions LLC grew its holdings in Bristol-Myers Squibb by 8.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 42,933 shares of the biopharmaceutical company’s stock valued at $2,428,000 after buying an additional 3,436 shares during the period. Premier Fund Managers Ltd raised its holdings in Bristol-Myers Squibb by 9.5% in the fourth quarter. Premier Fund Managers Ltd now owns 186,300 shares of the biopharmaceutical company’s stock valued at $10,445,000 after buying an additional 16,100 shares during the period. Pictet Asset Management Holding SA boosted its stake in shares of Bristol-Myers Squibb by 14.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,295,890 shares of the biopharmaceutical company’s stock valued at $73,296,000 after purchasing an additional 161,739 shares during the period. Finally, Frazier Financial Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 91.7% in the fourth quarter. Frazier Financial Advisors LLC now owns 694 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 332 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citigroup raised their target price on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Bank of America reiterated a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Cantor Fitzgerald lifted their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Truist Financial upped their target price 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. Finally, Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Price Performance

BMY opened at $58.90 on Friday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The stock has a market capitalization of $119.52 billion, a P/E ratio of -13.33, a P/E/G ratio of 2.07 and a beta of 0.43. The company’s 50-day simple moving average is $58.47 and its two-hundred day simple moving average is $56.17.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

Insider Activity

In related news, EVP Samit Hirawat bought 1,823 shares of the company’s stock in a transaction on Friday, February 14th. The shares were acquired at an average price 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. The trade was a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

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.