Regal Investment Advisors LLC Cuts Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Regal Investment Advisors LLC cut its position in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 50.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,212 shares of the biopharmaceutical company's stock after selling 6,386 shares during the period. Regal Investment Advisors LLC's holdings in Bristol-Myers Squibb were worth $351,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BMY. Wealthspire Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 0.6% during the fourth quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company's stock valued at $1,622,000 after acquiring an additional 170 shares during the period. Edmp Inc. lifted its holdings in shares of Bristol-Myers Squibb by 0.4% in the fourth quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company's stock valued at $2,353,000 after buying an additional 171 shares during the period. Trust Point Inc. grew its holdings in Bristol-Myers Squibb by 1.9% during the fourth quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company's stock worth $533,000 after acquiring an additional 172 shares during the period. Bedel Financial Consulting Inc. raised its position in Bristol-Myers Squibb by 3.2% in the fourth quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company's stock worth $340,000 after acquiring an additional 175 shares in the last quarter. Finally, Horst & Graben Wealth Management LLC boosted its position in shares of Bristol-Myers Squibb by 2.4% during the 4th quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company's stock valued at $426,000 after purchasing an additional 179 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol-Myers Squibb Stock Down 0.3 %

BMY opened at $49.24 on Friday. The company has a market capitalization of $100.18 billion, a PE ratio of -11.14, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The business has a 50-day moving average of $57.11 and a 200-day moving average of $56.66. 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 debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15.

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 negative net margin of 18.53% and a positive return on equity of 13.93%. Equities research analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.48 annualized dividend and a yield of 5.04%. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently -56.11%.

Insiders Place Their Bets

In related news, EVP Samit Hirawat bought 1,823 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now owns 63,932 shares in the company, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.07% of the company's stock.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of research reports. UBS Group reduced their target price on shares of Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Wells Fargo & Company increased their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Truist Financial upped their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 target price (down from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Finally, Cantor Fitzgerald upped their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $57.67.

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.

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