Beacon Pointe Advisors LLC Sells 7,300 Shares of Bristol-Myers Squibb (NYSE:BMY)

Beacon Pointe Advisors LLC reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 207,321 shares of the biopharmaceutical company’s stock after selling 7,300 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Bristol-Myers Squibb were worth $11,726,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Morse Asset Management Inc raised its holdings in Bristol-Myers Squibb by 25.0% during the third quarter. Morse Asset Management Inc now owns 10,000 shares of the biopharmaceutical company’s stock valued at $517,000 after acquiring an additional 2,000 shares during the period. Tudor Financial Inc. bought a new stake in Bristol-Myers Squibb during the third quarter valued at about $250,000. Pine Valley Investments Ltd Liability Co raised its holdings in Bristol-Myers Squibb by 1.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 44,897 shares of the biopharmaceutical company’s stock valued at $2,323,000 after acquiring an additional 575 shares during the period. World Investment Advisors LLC raised its holdings in Bristol-Myers Squibb by 18.7% during the third quarter. World Investment Advisors LLC now owns 44,106 shares of the biopharmaceutical company’s stock valued at $2,282,000 after acquiring an additional 6,954 shares during the period. Finally, Arvest Bank Trust Division bought a new stake in Bristol-Myers Squibb during the third quarter valued at about $1,724,000. 76.41% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Samit Hirawat purchased 1,823 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the purchase, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Up 1.1 %

NYSE:BMY opened at $48.45 on Tuesday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The company has a market cap of $98.58 billion, a price-to-earnings ratio of -10.96, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The stock has a fifty day simple moving average of $56.24 and a 200-day simple moving average of $56.50. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The business had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. During the same period last year, the company earned ($4.40) earnings per share. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. Analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 5.12%. Bristol-Myers Squibb’s dividend payout ratio is currently 92.88%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BMY shares. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Friday. Piper Sandler initiated coverage on Bristol-Myers Squibb in a report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price objective on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 price objective (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. Finally, UBS Group decreased their price objective on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average price target of $58.00.

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.