Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 10.2% in the fourth quarter, Holdings Channel reports. The firm owned 35,150 shares of the biopharmaceutical company’s stock after selling 4,006 shares during the period. Atlantic Union Bankshares Corp’s holdings in Bristol-Myers Squibb were worth $1,804,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OFI Invest Asset Management purchased a new position in Bristol-Myers Squibb during the 3rd quarter valued at about $25,000. True Wealth Design LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter worth approximately $26,000. Milestone Investment Advisors LLC acquired a new position in Bristol-Myers Squibb during the third quarter worth approximately $27,000. Coppell Advisory Solutions LLC acquired a new position in shares of Bristol-Myers Squibb in the second quarter valued at approximately $28,000. Finally, Blue Bell Private Wealth Management LLC increased its holdings in shares of Bristol-Myers Squibb by 61.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 200 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Up 1.8 %

Shares of Bristol-Myers Squibb stock traded up $0.98 during trading hours on Friday, reaching $54.23. The stock had a trading volume of 14,348,196 shares, compared to its average volume of 20,769,094. The firm has a 50 day simple moving average of $50.87 and a two-hundred day simple moving average of $52.45. The firm has a market capitalization of $109.91 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 1.61 and a beta of 0.38. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a 1 year low of $47.58 and a 1 year high of $71.07.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.55 by $0.15. The business had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company’s revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $1.82 EPS. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 6.61 earnings per share for the current year.

Bristol-Myers Squibb announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 7th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the biopharmaceutical company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.43%. Bristol-Myers Squibb’s payout ratio is currently 62.18%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Wells Fargo & Company decreased their target price on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 6th. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Finally, Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.12.

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.