OLD National Bancorp IN Decreases Holdings in Bristol-Myers Squibb (NYSE:BMY)

OLD National Bancorp IN lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 199,637 shares of the biopharmaceutical company's stock after selling 7,277 shares during the quarter. OLD National Bancorp IN's holdings in Bristol-Myers Squibb were worth $11,291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the third quarter worth about $25,000. Hollencrest Capital Management increased its stake in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 187 shares in the last quarter. Kennebec Savings Bank purchased a new stake in Bristol-Myers Squibb in the third quarter worth about $28,000. Darwin Wealth Management LLC purchased a new position in Bristol-Myers Squibb during the third quarter valued at approximately $29,000. Finally, Valued Wealth Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company's stock worth $31,000 after purchasing an additional 549 shares during the period. Institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Trading Up 1.5 %

BMY stock traded up $0.88 during trading on Monday, hitting $59.83. The company had a trading volume of 8,569,969 shares, compared to its average volume of 9,660,166. The firm has a market capitalization of $121.34 billion, a P/E ratio of -16.67, a PEG ratio of 2.10 and a beta of 0.45. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.10. The company has a 50 day simple moving average of $57.60 and a 200-day simple moving average of $53.34.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Bristol-Myers Squibb's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.00 earnings per share. As a group, research analysts forecast that Bristol-Myers Squibb will post 0.92 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.62 per share. This is an increase from Bristol-Myers Squibb's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.15%. Bristol-Myers Squibb's dividend payout ratio (DPR) is -69.08%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BMY. Citigroup lifted their target price 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. Truist Financial boosted their price objective 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. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a research note on Wednesday, November 13th. Daiwa America upgraded shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $56.60.

About Bristol-Myers Squibb

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.