Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lessened its position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 5.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 315,350 shares of the biopharmaceutical company's stock after selling 19,450 shares during the quarter. Gabelli Funds LLC's holdings in Bristol-Myers Squibb were worth $17,836,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Fairway Wealth LLC purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $28,000. Comprehensive Financial Planning Inc. PA purchased a new position in Bristol-Myers Squibb during the fourth quarter worth $34,000. Westend Capital Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at $38,000. Tacita Capital Inc acquired a new position in Bristol-Myers Squibb in the 4th quarter valued at about $39,000. Finally, M Holdings Securities Inc. purchased a new position in Bristol-Myers Squibb in the 4th quarter valued at about $39,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BMY has been the subject of a number of recent research reports. Wells Fargo & Company lifted 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. The Goldman Sachs Group reiterated a "neutral" rating and issued a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Truist Financial raised their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. UBS Group dropped their target price on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Cantor Fitzgerald increased their target price 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. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $57.67.

Bristol-Myers Squibb Stock Down 0.5 %

NYSE BMY traded down $0.27 during trading hours on Monday, hitting $48.96. The company had a trading volume of 2,398,846 shares, compared to its average volume of 12,946,643. The firm's 50 day moving average is $56.98 and its 200 day moving average is $56.68. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The company has a market capitalization of $99.62 billion, a price-to-earnings ratio of -11.08, a P/E/G ratio of 2.07 and a beta of 0.41.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted 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%. Sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

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 paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a dividend yield of 5.07%. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently -56.11%.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were acquired 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 owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company's stock.

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.