Ardent Capital Management Inc. Lowers Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Ardent Capital Management Inc. decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 39.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,700 shares of the biopharmaceutical company's stock after selling 10,283 shares during the period. Bristol-Myers Squibb accounts for about 0.4% of Ardent Capital Management Inc.'s portfolio, making the stock its 23rd biggest position. Ardent Capital Management Inc.'s holdings in Bristol-Myers Squibb were worth $888,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC raised its stake in Bristol-Myers Squibb by 10.5% during the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company's stock worth $2,325,227,000 after buying an additional 4,275,787 shares during the period. Jennison Associates LLC raised its stake in Bristol-Myers Squibb by 420.1% during the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company's stock worth $219,443,000 after buying an additional 3,425,789 shares during the period. Janus Henderson Group PLC raised its stake in Bristol-Myers Squibb by 695.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company's stock worth $183,971,000 after buying an additional 3,107,672 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Bristol-Myers Squibb by 18.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company's stock worth $986,931,000 after purchasing an additional 3,002,418 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Bristol-Myers Squibb by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company's stock worth $3,157,713,000 after purchasing an additional 1,968,729 shares during the last quarter. Institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Stock Performance

NYSE BMY traded up $0.06 on Friday, hitting $55.85. 11,100,311 shares of the stock traded hands, compared to its average volume of 10,886,042. The business's fifty day moving average is $56.99 and its two-hundred day moving average is $54.24. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10. The firm has a market capitalization of $113.33 billion, a price-to-earnings ratio of -12.63, a PEG ratio of 2.04 and a beta of 0.45. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping 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%. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were issued a $0.62 dividend. This is a positive change from Bristol-Myers Squibb's previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Friday, January 3rd. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently -56.11%.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 63,932 shares of the company's stock, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. 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 research note on Tuesday, November 12th. Bank of America reaffirmed a "neutral" rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Jefferies Financial Group raised Bristol-Myers Squibb from a "hold" rating to a "buy" rating and increased their price target for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Wells Fargo & Company increased their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Finally, Truist Financial increased their price target 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, twelve have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $57.86.

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.