Delta Asset Management LLC TN Sells 2,270 Shares of Bristol-Myers Squibb (NYSE:BMY)

Delta Asset Management LLC TN decreased its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,306 shares of the biopharmaceutical company’s stock after selling 2,270 shares during the quarter. Delta Asset Management LLC TN’s holdings in Bristol-Myers Squibb were worth $4,372,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Howe & Rusling Inc. raised its position in shares of Bristol-Myers Squibb by 6.1% during the fourth quarter. Howe & Rusling Inc. now owns 8,128 shares of the biopharmaceutical company’s stock worth $460,000 after acquiring an additional 467 shares during the last quarter. AssuredPartners Investment Advisors LLC acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $577,000. NEOS Investment Management LLC grew its position in shares of Bristol-Myers Squibb by 31.7% in the 4th quarter. NEOS Investment Management LLC now owns 124,182 shares of the biopharmaceutical company’s stock valued at $7,024,000 after purchasing an additional 29,869 shares during the period. Moment Partners LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $262,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Bristol-Myers Squibb by 8.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,466,494 shares of the biopharmaceutical company’s stock worth $196,100,000 after buying an additional 266,279 shares during the period. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $59.18 on Thursday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.33. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The stock has a market cap of $120.08 billion, a price-to-earnings ratio of -13.39, a PEG ratio of 2.07 and a beta of 0.43. The company’s 50 day moving average is $58.42 and its two-hundred day moving average is $56.15.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate 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%. As a group, research analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.19%. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

Insiders Place Their Bets

In related news, EVP Samit Hirawat bought 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The shares were bought 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 directly owns 63,932 shares of the company’s stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BMY. Bank of America restated a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their price target for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Wells Fargo & Company upped their price target on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Citigroup raised their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Finally, Truist Financial increased 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 research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.