FourThought Financial Partners LLC Has $808,000 Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• FourThought Financial Partners LLC significantly reduced its holdings in Bristol Myers Squibb, selling 100,651 shares and retaining only 13,249 shares, which are now valued at $808,000.
• In contrast, several other hedge funds have increased their investments, with Ameriprise Financial raising its position by 59.9% and Wellington Management Group by 3,880.0% in the last quarter.
• Bristol Myers Squibb recently disclosed a dividend of $0.62 per share, representing an annualized yield of 5.12%, with a payout ratio currently at 92.88%.

FourThought Financial Partners LLC trimmed its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 88.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,249 shares of the biopharmaceutical company's stock after selling 100,651 shares during the quarter. FourThought Financial Partners LLC's holdings in Bristol Myers Squibb were worth $808,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. acquired a new stake in Bristol Myers Squibb during the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC bought a new position in shares of Bristol Myers Squibb in the fourth quarter valued at approximately $26,000. Global Wealth Strategies & Associates raised its stake in shares of Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 275 shares during the last quarter. Transce3nd LLC bought a new position in shares of Bristol Myers Squibb in the fourth quarter valued at approximately $28,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bristol Myers Squibb in the first quarter valued at approximately $31,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BMY shares. UBS Group cut 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 research note on Friday, April 11th. Morgan Stanley cut their target price on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating for the company in a research note on Thursday, July 10th. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Piper Sandler initiated coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price for the company. Finally, William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $58.53.

Bristol Myers Squibb Stock Down 0.4%

NYSE BMY traded down $0.18 on Wednesday, reaching $46.68. The company had a trading volume of 3,304,694 shares, compared to its average volume of 13,223,447. The firm has a market capitalization of $94.99 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 2.50 and a beta of 0.36. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. Bristol Myers Squibb Company has a 1-year low of $44.00 and a 1-year high of $63.33. The company's fifty day moving average is $47.65 and its 200-day moving average is $52.49.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's payout ratio is presently 92.88%.

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.