44 Wealth Management LLC Sells 1,059 Shares of Bristol Myers Squibb Company (NYSE:BMY)

44 Wealth Management LLC lowered its stake in Bristol Myers Squibb Company (NYSE:BMY) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,991 shares of the biopharmaceutical company’s stock after selling 1,059 shares during the quarter. Bristol Myers Squibb comprises about 1.4% of 44 Wealth Management LLC’s portfolio, making the stock its 8th biggest holding. 44 Wealth Management LLC’s holdings in Bristol Myers Squibb were worth $3,659,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Aviance Capital Partners LLC boosted its holdings in shares of Bristol Myers Squibb by 1.9% in the first quarter. Aviance Capital Partners LLC now owns 36,704 shares of the biopharmaceutical company’s stock valued at $2,239,000 after acquiring an additional 686 shares in the last quarter. Moody Aldrich Partners LLC acquired a new stake in Bristol Myers Squibb in the first quarter worth approximately $302,000. Aurora Private Wealth Inc. acquired a new position in shares of Bristol Myers Squibb during the 1st quarter valued at $6,039,000. Davidson Trust Co. increased its position in shares of Bristol Myers Squibb by 10.1% during the 1st quarter. Davidson Trust Co. now owns 14,064 shares of the biopharmaceutical company’s stock valued at $858,000 after purchasing an additional 1,285 shares during the period. Finally, Checchi Capital Advisers LLC raised its stake in shares of Bristol Myers Squibb by 8.9% in the 1st quarter. Checchi Capital Advisers LLC now owns 13,114 shares of the biopharmaceutical company’s stock worth $800,000 after buying an additional 1,076 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BMY. Jefferies Financial Group lowered their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. UBS Group lowered their price objective on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Piper Sandler began coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 target price for the company. Argus upgraded shares of Bristol Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 price objective (down previously from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $58.00.

Insider Transactions at Bristol Myers Squibb

In other news, EVP Samit Hirawat bought 4,250 shares of the company’s stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $47.58 per share, with a total value of $202,215.00. Following the transaction, the executive vice president directly owned 83,513 shares in the company, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Bristol Myers Squibb Stock Down 1.3%

Shares of Bristol Myers Squibb stock opened at $47.02 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. Bristol Myers Squibb Company has a 1 year low of $39.35 and a 1 year high of $63.33. The stock has a 50-day moving average price of $47.75 and a 200 day moving average price of $53.69. The company has a market cap of $95.68 billion, a P/E ratio of 17.61, a P/E/G ratio of 1.41 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The business had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. During the same period last year, the company posted ($4.40) earnings per share. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.27%. Bristol Myers Squibb’s dividend payout ratio is 92.88%.

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.