Meyer Handelman Co. Decreases Holdings in Bristol-Myers Squibb (NYSE:BMY)

Meyer Handelman Co. reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 553,168 shares of the biopharmaceutical company's stock after selling 10,723 shares during the period. Meyer Handelman Co.'s holdings in Bristol-Myers Squibb were worth $31,287,000 at the end of the most recent reporting period.

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

Bristol-Myers Squibb Stock Up 0.4 %

NYSE:BMY traded up $0.22 during trading hours on Wednesday, reaching $55.96. The company had a trading volume of 6,509,714 shares, compared to its average volume of 8,968,832. The firm has a market cap of $113.50 billion, a price-to-earnings ratio of -15.59, a P/E/G ratio of 15.20 and a beta of 0.45. The business's 50-day simple moving average is $57.44 and its two-hundred day simple moving average is $51.76. 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 twelve month low of $39.35 and a twelve month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same period in the prior year, the firm earned $2.00 earnings per share. Bristol-Myers Squibb's revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.62 per share. 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 yield of 4.43%. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb's payout ratio is currently -69.08%.

Analysts Set New Price Targets

BMY has been the subject of several research analyst reports. TD Cowen upped their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a "hold" rating in a report on Monday, October 7th. Daiwa America raised Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, November 13th. Wolfe Research initiated coverage on shares of Bristol-Myers Squibb in a research report on Friday, November 15th. They set a "peer perform" rating on the stock. Truist Financial upped their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Finally, Barclays boosted their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of "Hold" and an average price target of $56.27.

Insider Buying and Selling

In other news, SVP Phil M. Holzer sold 700 shares of the company's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Samit Hirawat purchased 1,830 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now directly owns 62,109 shares of the company's stock, valued at $3,395,499.03. This represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

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.