Cornercap Investment Counsel Inc. Sells 1,693 Shares of Bristol-Myers Squibb (NYSE:BMY)

Cornercap Investment Counsel Inc. cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,820 shares of the biopharmaceutical company’s stock after selling 1,693 shares during the quarter. Bristol-Myers Squibb comprises approximately 0.7% of Cornercap Investment Counsel Inc.’s holdings, making the stock its 9th largest position. Cornercap Investment Counsel Inc.’s holdings in Bristol-Myers Squibb were worth $2,252,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter worth $28,000. Dunhill Financial LLC boosted its stake in shares of Bristol-Myers Squibb by 39.8% during the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 189 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at about $34,000. Westend Capital Management LLC bought a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $38,000. Finally, Tacita Capital Inc acquired a new stake in Bristol-Myers Squibb in the 4th quarter worth approximately $39,000. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Trading Up 2.0 %

Shares of BMY stock opened at $60.10 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. The firm has a fifty day moving average of $58.55 and a 200-day moving average of $56.25. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.33. The stock has a market cap of $121.96 billion, a price-to-earnings ratio of -13.60, a P/E/G ratio of 2.07 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly 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 positive return on equity of 13.93% and a negative net margin of 18.53%. On average, equities research analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

Analysts Set New Price Targets

A number of research firms have recently commented on BMY. Cantor Fitzgerald lifted their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Truist Financial lifted 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. Wells Fargo & Company upped their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Citigroup lifted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Bank of America restated a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $57.86.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The shares were acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the acquisition, the executive vice president now directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.09% of the company’s stock.

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.