Kingsview Wealth Management LLC Reduces Stake in Bristol-Myers Squibb

Kingsview Wealth Management LLC has decreased its stake in Bristol-Myers Squibb (NYSE:BMY) by 66.5%, as noted in their latest filing with the Securities and Exchange Commission. As of the end of the last reporting quarter, the firm held 31,718 shares of the biopharmaceutical company after selling 62,976 shares. The value of Kingsview's holdings in Bristol-Myers Squibb is estimated at $1.79 million.

Several other institutional investors have also adjusted their positions in Bristol-Myers Squibb. For instance, Reston Wealth Management LLC started a new position in the company during the third quarter, investing around $25,000. Similarly, Hollencrest Capital Management increased its stake by 61.3%, currently owning 492 shares valued at about $25,000 after acquiring an additional 187 shares over the same period. Kennebec Savings Bank and Darwin Wealth Management LLC each established new positions worth approximately $28,000 and $29,000, respectively. Additionally, Valued Wealth Advisors LLC significantly raised their stake by an impressive 1,168.1%, now holding 596 shares worth $31,000 after buying an extra 549 shares. At present, institutional investors and hedge funds own about 76.41% of Bristol-Myers Squibb's stock.

Bristol-Myers Squibb Stock Performance

On Tuesday, Bristol-Myers Squibb’s stock opened at $55.50. The company has a 52-week low of $39.35 and a high of $61.10. Its debt-to-equity ratio stands at 2.83, while the quick and current ratios are 1.09 and 1.24, respectively. The stock's 50-day simple moving average is $57.56, and the 200-day simple moving average is $53.89. Bristol-Myers has a market capitalization of $112.55 billion, a negative PE ratio of -12.56, a price-to-earnings growth ratio of 2.13, and a beta of 0.45.

Recent Earnings and Dividend Announcements

On February 6th, Bristol-Myers Squibb announced its earnings results, reporting an EPS of $1.67, which exceeded the consensus estimate of $1.47 by $0.20. The company noted a negative net margin of 18.53% but maintained a return on equity of 13.81%. Analysts project Bristol-Myers Squibb to post earnings per share of 6.75 for the current year.

The company has also declared a quarterly dividend of $0.62 per share, which was paid on February 3rd. This marked an increase from the previous dividend of $0.60 per share, totaling an annualized dividend of $2.48 and providing a yield of 4.47%. The ex-dividend date was January 3rd, with a dividend payout ratio of -56.11%.

Analyst Ratings and Upgrades

Equity analysts have recently provided various ratings for Bristol-Myers Squibb shares. On November 13th, Daiwa America upgraded the stock from a "hold" to a "strong-buy" rating. Furthermore, on November 12th, Leerink Partners likewise upgraded it to a "strong-buy" rating. Bank of America reaffirmed a "neutral" rating, assigning a target price of $63.00 on December 10th. Morgan Stanley adjusted its price target from $36.00 to $39.00 and rated the stock as "underweight." Jefferies Financial Group also moved its rating from "hold" to "buy," increasing their target price from $63.00 to $70.00. The current consensus indicates two sell ratings, twelve hold ratings, four buy ratings, and three strong buy ratings, leading to an average rating of "Hold" and a target price of approximately $57.86.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company is engaged in discovering, developing, licensing, manufacturing, marketing, distributing, and selling biopharmaceutical products on a global scale. The company produces treatments for various medical conditions across hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience disorders. Its key products include Eliquis, Opdivo, Pomalyst/Imnovid, Orencia, and Sprycel.

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