L & S Advisors Inc Lowers Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

L & S Advisors Inc cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 15.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,795 shares of the biopharmaceutical company’s stock after selling 668 shares during the period. L & S Advisors Inc’s holdings in Bristol-Myers Squibb were worth $215,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Fairway Wealth LLC purchased a new position in Bristol-Myers Squibb in the 4th quarter valued at approximately $28,000. Dunhill Financial LLC raised its stake in shares of Bristol-Myers Squibb by 39.8% in the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 189 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at $34,000. Westend Capital Management LLC acquired a new position in Bristol-Myers Squibb during the 4th quarter worth $38,000. Finally, Tacita Capital Inc purchased a new stake in Bristol-Myers Squibb during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $60.10 on Monday. The firm has a 50-day simple moving average of $58.55 and a 200-day simple moving average of $56.35. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The company has a market capitalization of $121.96 billion, a price-to-earnings ratio of -13.60, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (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 company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is -56.11%.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the company’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 transaction, the executive vice president now 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BMY shares. Cantor Fitzgerald boosted their price objective on Bristol-Myers Squibb from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Truist Financial boosted their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Citigroup raised their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, Bank of America reaffirmed a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.