Washington Trust Advisors Inc. Has $379,000 Holdings in Bristol-Myers Squibb (NYSE:BMY)

Washington Trust Advisors Inc. lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,700 shares of the biopharmaceutical company’s stock after selling 589 shares during the period. Washington Trust Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $379,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BMY. Truist Financial Corp boosted its holdings in Bristol-Myers Squibb by 3.9% in the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock valued at $90,335,000 after acquiring an additional 60,365 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in Bristol-Myers Squibb during the fourth quarter worth $488,000. Inspire Trust Co. N.A. grew its holdings in Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after buying an additional 29,044 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in Bristol-Myers Squibb by 34.3% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock worth $2,305,000 after buying an additional 11,387 shares in the last quarter. Finally, iA Global Asset Management Inc. grew its stake in Bristol-Myers Squibb by 81.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after purchasing an additional 34,418 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $59.85 on Thursday. The firm has a market cap of $121.44 billion, a P/E ratio of -13.54, a P/E/G ratio of 2.07 and a beta of 0.45. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. The business’s 50 day moving average price is $57.28 and its 200-day moving average price is $54.97. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS 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 anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders 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 dividend yield of 4.14%. The ex-dividend date of this dividend is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Insider Activity

In other news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction on Friday, February 14th. The shares were bought at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the acquisition, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BMY. Cantor Fitzgerald upped their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. BMO Capital Markets increased their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company raised their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $57.86.

Bristol-Myers Squibb Company 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.