Smith Moore & CO. Reduces Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Smith Moore & CO. reduced its position in shares of Bristol-Myers Squibb (NYSE:BMYGet Rating) by 4.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,901 shares of the biopharmaceutical company’s stock after selling 1,667 shares during the period. Smith Moore & CO.’s holdings in Bristol-Myers Squibb were worth $2,533,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BMY. IFM Investors Pty Ltd lifted its holdings in Bristol-Myers Squibb by 18.3% in the first quarter. IFM Investors Pty Ltd now owns 358,632 shares of the biopharmaceutical company’s stock worth $26,191,000 after buying an additional 55,413 shares during the period. Versor Investments LP bought a new position in shares of Bristol-Myers Squibb during the first quarter valued at approximately $259,000. Ausdal Financial Partners Inc. increased its stake in shares of Bristol-Myers Squibb by 29.8% during the first quarter. Ausdal Financial Partners Inc. now owns 7,885 shares of the biopharmaceutical company’s stock valued at $576,000 after purchasing an additional 1,812 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Bristol-Myers Squibb by 25.1% during the first quarter. Envestnet Asset Management Inc. now owns 2,470,096 shares of the biopharmaceutical company’s stock valued at $180,391,000 after purchasing an additional 495,410 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its stake in shares of Bristol-Myers Squibb by 22.2% during the first quarter. Benjamin Edwards Inc. now owns 3,572 shares of the biopharmaceutical company’s stock valued at $261,000 after purchasing an additional 648 shares in the last quarter. 76.54% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Up 0.4 %

Shares of BMY traded up $0.28 during mid-day trading on Thursday, hitting $79.14. The company’s stock had a trading volume of 5,700,281 shares, compared to its average volume of 9,966,491. Bristol-Myers Squibb has a 52-week low of $53.22 and a 52-week high of $81.17. The company’s 50-day moving average is $73.70 and its 200-day moving average is $74.07. The company has a current ratio of 1.42, a quick ratio of 1.31 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $168.26 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 1.86 and a beta of 0.40.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last issued its quarterly earnings results on Wednesday, October 26th. The biopharmaceutical company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.16. Bristol-Myers Squibb had a net margin of 14.29% and a return on equity of 50.30%. The business had revenue of $11.22 billion for the quarter, compared to analyst estimates of $11.18 billion. During the same quarter in the prior year, the business posted $2.00 EPS. Bristol-Myers Squibb’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities research analysts forecast that Bristol-Myers Squibb will post 7.6 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Friday, October 7th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Thursday, October 6th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 70.36%.

Analyst Ratings Changes

BMY has been the subject of a number of analyst reports. UBS Group raised their target price on shares of Bristol-Myers Squibb to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Berenberg Bank downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and cut their target price for the stock from $82.00 to $76.00 in a research report on Wednesday, September 14th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $85.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, September 27th. Atlantic Securities lifted their target price on shares of Bristol-Myers Squibb from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, November 10th. Finally, Guggenheim cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating in a research note on Monday, October 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Moderate Buy” and an average price target of $79.00.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Ann Powell sold 25,000 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $70.75, for a total transaction of $1,768,750.00. Following the transaction, the executive vice president now directly owns 50,476 shares of the company’s stock, valued at $3,571,177. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Bristol-Myers Squibb news, EVP Ann Powell sold 25,000 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $70.75, for a total transaction of $1,768,750.00. Following the transaction, the executive vice president now directly owns 50,476 shares of the company’s stock, valued at $3,571,177. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Rupert Vessey sold 45,910 shares of the firm’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $78.88, for a total transaction of $3,621,380.80. Following the completion of the transaction, the executive vice president now directly owns 57,079 shares in the company, valued at $4,502,391.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 296,111 shares of company stock valued at $21,582,900. Corporate insiders own 0.09% of the company’s stock.

About Bristol-Myers Squibb

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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