Synovus Financial Corp Sells 5,634 Shares of Bristol-Myers Squibb (NYSE:BMY)

Synovus Financial Corp trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 254,547 shares of the biopharmaceutical company’s stock after selling 5,634 shares during the period. Synovus Financial Corp’s holdings in Bristol-Myers Squibb were worth $14,397,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $28,000. Comprehensive Financial Planning Inc. PA bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $34,000. Westend Capital Management LLC bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $38,000. Tacita Capital Inc acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $39,000. Finally, M Holdings Securities Inc. bought a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.4 %

NYSE BMY opened at $50.68 on Friday. The stock has a market capitalization of $103.11 billion, a P/E ratio of -11.46, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. 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 stock has a fifty day moving average of $57.71 and a 200-day moving average of $56.73.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping 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 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -56.11%.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,823 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the purchase, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents 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 at the SEC website. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on BMY. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Citigroup raised their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. UBS Group lowered their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price objective for the company from $63.00 to $70.00 in a report on Monday, December 16th. Finally, Wells Fargo & Company upped their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $57.67.

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.