Schmidt P J Investment Management Inc. Sells 971 Shares of Bristol-Myers Squibb (NYSE:BMY)

Schmidt P J Investment Management Inc. decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,479 shares of the biopharmaceutical company’s stock after selling 971 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Bristol-Myers Squibb were worth $366,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Reston Wealth Management LLC acquired a new stake in Bristol-Myers Squibb in the 3rd quarter worth about $25,000. Hollencrest Capital Management grew its position in Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 187 shares in the last quarter. Kennebec Savings Bank bought a new position in Bristol-Myers Squibb during the 3rd quarter worth $28,000. Darwin Wealth Management LLC bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at $29,000. Finally, Valued Wealth Advisors LLC increased its position in shares of Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analysts Set New Price Targets

BMY has been the topic of a number of analyst reports. Cantor Fitzgerald increased their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and boosted their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their target price for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. UBS Group boosted their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Truist Financial lifted their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $56.93.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $59.66 on Thursday. The company has a market capitalization of $121.01 billion, a price-to-earnings ratio of -16.62, a price-to-earnings-growth ratio of 2.10 and a beta of 0.45. The business has a 50-day moving average of $57.64 and a 200-day moving average of $53.59. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.10.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.16%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is -69.08%.

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.