SouthState Corp Sells 439 Shares of Bristol-Myers Squibb (NYSE:BMY)

SouthState Corp lessened its position in Bristol-Myers Squibb (NYSE:BMY) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,699 shares of the biopharmaceutical company’s stock after selling 439 shares during the period. SouthState Corp’s holdings in Bristol-Myers Squibb were worth $1,575,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Los Angeles Capital Management LLC lifted its stake in Bristol-Myers Squibb by 24.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,913,249 shares of the biopharmaceutical company’s stock worth $98,169,000 after acquiring an additional 376,367 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Bristol-Myers Squibb by 2.3% during the 4th quarter. First Horizon Advisors Inc. now owns 93,408 shares of the biopharmaceutical company’s stock valued at $4,793,000 after purchasing an additional 2,075 shares in the last quarter. Summit Asset Management LLC increased its position in shares of Bristol-Myers Squibb by 7.6% during the fourth quarter. Summit Asset Management LLC now owns 8,498 shares of the biopharmaceutical company’s stock valued at $436,000 after buying an additional 600 shares during the period. West Family Investments Inc. boosted its position in Bristol-Myers Squibb by 64.1% during the 4th quarter. West Family Investments Inc. now owns 6,096 shares of the biopharmaceutical company’s stock valued at $313,000 after acquiring an additional 2,381 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Bristol-Myers Squibb by 130.7% in the 4th quarter. Fisher Asset Management LLC now owns 224,537 shares of the biopharmaceutical company’s stock worth $11,521,000 after acquiring an additional 127,228 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wells Fargo & Company raised their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Finally, Barclays cut their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY traded up $0.29 during mid-day trading on Friday, reaching $43.99. 11,979,505 shares of the company traded hands, compared to its average volume of 15,917,313. The company’s 50 day moving average price is $50.52 and its 200-day moving average price is $50.84. The firm has a market cap of $89.17 billion, a PE ratio of -14.19, a PEG ratio of 14.90 and a beta of 0.45. Bristol-Myers Squibb has a 52 week low of $43.33 and a 52 week high of $69.10. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. The business had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 earnings per share. On average, equities analysts expect that Bristol-Myers Squibb will post 0.59 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.46%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

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.