Corient Private Wealth LLC Cuts Holdings in Bristol-Myers Squibb (NYSE:BMY)

Corient Private Wealth LLC reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 612,668 shares of the biopharmaceutical company’s stock after selling 14,839 shares during the period. Corient Private Wealth LLC’s holdings in Bristol-Myers Squibb were worth $34,653,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 0.6% in the fourth quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock valued at $1,622,000 after purchasing an additional 170 shares in the last quarter. Edmp Inc. grew its stake in shares of Bristol-Myers Squibb by 0.4% in the 4th quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock worth $2,353,000 after buying an additional 171 shares in the last quarter. Trust Point Inc. increased its holdings in shares of Bristol-Myers Squibb by 1.9% in the 4th quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock worth $533,000 after buying an additional 172 shares during the last quarter. Bedel Financial Consulting Inc. raised its position in shares of Bristol-Myers Squibb by 3.2% during the 4th quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock valued at $340,000 after buying an additional 175 shares in the last quarter. Finally, Horst & Graben Wealth Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 2.4% in the 4th quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock valued at $426,000 after acquiring an additional 179 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Samit Hirawat purchased 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The stock was purchased 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 in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by insiders.

Bristol-Myers Squibb Trading Up 1.8 %

Shares of NYSE BMY opened at $60.07 on Tuesday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The firm has a market cap of $121.89 billion, a PE ratio of -13.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The business has a fifty day simple moving average of $57.87 and a two-hundred day simple moving average of $55.69. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate 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%. Analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed 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 is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is -56.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wells Fargo & Company upped their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Bank of America restated a “neutral” rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Citigroup boosted their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their target price for the stock from $63.00 to $70.00 in a report on Monday, December 16th. Finally, Cantor Fitzgerald upped their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and three have assigned 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 an average 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.