Valley Wealth Managers Inc. Reduces Stake in Bristol-Myers Squibb (NYSE:BMY)

Valley Wealth Managers Inc. lowered its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 11.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,931 shares of the biopharmaceutical company's stock after selling 7,824 shares during the period. Valley Wealth Managers Inc.'s holdings in Bristol-Myers Squibb were worth $3,559,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Cardinal Capital Management grew its stake in shares of Bristol-Myers Squibb by 0.4% in the 4th quarter. Cardinal Capital Management now owns 95,034 shares of the biopharmaceutical company's stock worth $5,375,000 after buying an additional 353 shares during the last quarter. Davidson Trust Co. grew its stake in shares of Bristol-Myers Squibb by 1.8% in the 4th quarter. Davidson Trust Co. now owns 12,779 shares of the biopharmaceutical company's stock worth $723,000 after buying an additional 222 shares during the last quarter. Kestra Investment Management LLC grew its stake in shares of Bristol-Myers Squibb by 96.9% in the 4th quarter. Kestra Investment Management LLC now owns 7,829 shares of the biopharmaceutical company's stock worth $443,000 after buying an additional 3,853 shares during the last quarter. Braun Stacey Associates Inc. purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $19,712,000. Finally, Keating Investment Counselors Inc. grew its stake in shares of Bristol-Myers Squibb by 30.4% in the 4th quarter. Keating Investment Counselors Inc. now owns 11,417 shares of the biopharmaceutical company's stock worth $646,000 after buying an additional 2,660 shares during the last quarter. Institutional investors own 76.41% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on BMY shares. Wells Fargo & Company upped their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a "hold" rating to a "buy" rating and upped their price target for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Bank of America reiterated a "neutral" rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. BMO Capital Markets increased their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a "market perform" rating in a research note on Tuesday, November 12th. Finally, Cantor Fitzgerald increased their target price on Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb presently has an average rating of "Hold" and an average price target of $57.86.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,823 shares of the firm's stock in a transaction on Friday, February 14th. The shares were acquired at an average cost of $54.84 per share, with a total value of $99,973.32. Following the completion of the acquisition, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY traded up $0.06 during midday trading on Friday, hitting $55.85. 11,100,311 shares of the stock traded hands, compared to its average volume of 10,886,042. The firm has a 50-day moving average of $56.99 and a two-hundred day moving average of $54.30. The firm has a market capitalization of $113.33 billion, a P/E ratio of -12.63, a PEG ratio of 2.04 and a beta of 0.45. 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 one year low of $39.35 and a one year high of $61.10.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS 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%. On average, equities analysts forecast that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were issued a $0.62 dividend. This is a boost 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 4.44%. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently -56.11%.

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.