Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 16.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,310 shares of the biopharmaceutical company's stock after selling 7,183 shares during the quarter. Steel Grove Capital Advisors LLC's holdings in Bristol-Myers Squibb were worth $2,054,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fairway Wealth LLC purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $28,000. Transce3nd LLC acquired a new position in Bristol-Myers Squibb in the 4th quarter valued at about $28,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Bristol-Myers Squibb during the fourth quarter worth about $34,000. Westend Capital Management LLC acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth about $38,000. Finally, Tacita Capital Inc purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $39,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded down $0.83 during mid-day trading on Friday, hitting $47.86. 16,292,011 shares of the stock were exchanged, compared to its average volume of 12,961,711. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The stock has a market capitalization of $97.38 billion, a price-to-earnings ratio of -10.83, a P/E/G ratio of 2.07 and a beta of 0.41. The stock's fifty day simple moving average is $56.50 and its two-hundred day simple moving average is $56.50.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.55 by $0.25. The company had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. During the same quarter in the previous year, the company posted ($4.40) earnings per share. On average, analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb's dividend payout ratio is currently -56.11%.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of research reports. Wells Fargo & Company increased their target price 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. Citigroup increased their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company 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 reduced their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Truist Financial boosted their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of "Hold" and an average price target of $58.00.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,823 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was 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 of the company's stock, valued at approximately $3,506,030.88. This 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 this link. 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.