IHT Wealth Management LLC Sells 26,622 Shares of Bristol-Myers Squibb (NYSE:BMY)

IHT Wealth Management LLC lessened its stake in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 43.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,005 shares of the biopharmaceutical company's stock after selling 26,622 shares during the quarter. IHT Wealth Management LLC's holdings in Bristol-Myers Squibb were worth $1,923,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BMY. Transce3nd LLC bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $28,000. Fairway Wealth LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $28,000. Comprehensive Financial Planning Inc. PA bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $34,000. Westend Capital Management LLC acquired a new stake in Bristol-Myers Squibb in the fourth quarter worth $38,000. Finally, Tacita Capital Inc bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $39,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol-Myers Squibb Trading Up 1.8 %

Shares of NYSE:BMY opened at $49.82 on Wednesday. The company has a 50-day simple moving average of $56.71 and a 200 day simple moving average of $56.59. The company has a market capitalization of $101.37 billion, a P/E ratio of -11.27, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. 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 has a 52-week low of $39.35 and a 52-week high of $63.33.

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 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%. Sell-side analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.98%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb's payout ratio is -56.11%.

Analyst Ratings Changes

BMY has been the topic of several research analyst reports. Citigroup raised their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Piper Sandler started coverage on Bristol-Myers Squibb in a research note on Tuesday. They set an "overweight" rating and a $65.00 target price for the company. UBS Group cut their price target on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company increased their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Finally, Truist Financial upped their target price on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $58.13.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,823 shares of the stock in a transaction dated 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 purchase, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company's stock.

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.

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