Hennion & Walsh Asset Management Inc. Has $1.34 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Hennion & Walsh Asset Management Inc. cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 33.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,698 shares of the biopharmaceutical company's stock after selling 12,114 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Bristol-Myers Squibb were worth $1,340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Lakewood Asset Management LLC boosted its position in Bristol-Myers Squibb by 0.7% during the fourth quarter. Lakewood Asset Management LLC now owns 26,867 shares of the biopharmaceutical company's stock worth $1,520,000 after purchasing an additional 195 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in Bristol-Myers Squibb in the 4th quarter valued at $488,000. Essex Savings Bank boosted its stake in Bristol-Myers Squibb by 4.4% during the 4th quarter. Essex Savings Bank now owns 17,432 shares of the biopharmaceutical company's stock worth $986,000 after purchasing an additional 733 shares during the last quarter. Pinnacle Bancorp Inc. grew its holdings in shares of Bristol-Myers Squibb by 23.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 3,176 shares of the biopharmaceutical company's stock worth $180,000 after buying an additional 600 shares in the last quarter. Finally, Armstrong Advisory Group Inc. raised its position in shares of Bristol-Myers Squibb by 3.7% in the fourth quarter. Armstrong Advisory Group Inc. now owns 6,148 shares of the biopharmaceutical company's stock valued at $348,000 after buying an additional 218 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets upped their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a "market perform" rating in a research report on Tuesday, November 12th. Truist Financial raised their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Citigroup raised their price target on shares of Bristol-Myers Squibb from $55.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday, November 12th. Barclays increased their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. Finally, Leerink Partnrs raised Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $56.27.

Bristol-Myers Squibb Trading Down 0.0 %

Shares of Bristol-Myers Squibb stock traded down $0.03 during trading hours on Friday, hitting $56.35. The company's stock had a trading volume of 10,909,530 shares, compared to its average volume of 10,195,547. The business has a fifty day moving average of $57.53 and a 200 day moving average of $52.00. 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 1-year low of $39.35 and a 1-year high of $61.08. The company has a market capitalization of $114.30 billion, a PE ratio of -15.70, a P/E/G ratio of 1.95 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business had revenue of $11.89 billion for the quarter, compared to analysts' expectations of $11.26 billion. During the same quarter in the previous year, the firm posted $2.00 earnings per share. The company's revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current year.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.40%. This is a positive change from Bristol-Myers Squibb's previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb's dividend payout ratio (DPR) is -69.08%.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat acquired 1,830 shares of the company's stock in a transaction dated Friday, November 1st. The shares were bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares of the company's stock, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

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.