PFS Investments Inc. lowered its holdings in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 5.1% in the first quarter, Holdings Channel reports. The firm owned 431,978 shares of the biopharmaceutical company’s stock after selling 23,262 shares during the quarter. PFS Investments Inc.’s holdings in Bristol-Myers Squibb were worth $31,547,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Cahaba Wealth Management Inc. raised its holdings in shares of Bristol-Myers Squibb by 2.5% during the 1st quarter. Cahaba Wealth Management Inc. now owns 5,391 shares of the biopharmaceutical company’s stock worth $405,000 after acquiring an additional 132 shares in the last quarter. MV Capital Management Inc. raised its holdings in Bristol-Myers Squibb by 10.7% during the 1st quarter. MV Capital Management Inc. now owns 1,391 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 135 shares during the period. Sanders Morris Harris LLC raised its holdings in Bristol-Myers Squibb by 0.3% during the 1st quarter. Sanders Morris Harris LLC now owns 40,501 shares of the biopharmaceutical company’s stock valued at $2,958,000 after buying an additional 137 shares during the period. Bernardo Wealth Planning LLC raised its holdings in Bristol-Myers Squibb by 4.3% during the 1st quarter. Bernardo Wealth Planning LLC now owns 3,389 shares of the biopharmaceutical company’s stock valued at $247,000 after buying an additional 139 shares during the period. Finally, Providence Wealth Advisors LLC raised its holdings in Bristol-Myers Squibb by 0.5% during the 1st quarter. Providence Wealth Advisors LLC now owns 27,047 shares of the biopharmaceutical company’s stock valued at $1,997,000 after buying an additional 139 shares during the period. Institutional investors own 76.54% of the company’s stock.
Bristol-Myers Squibb Trading Up 1.1 %
Shares of NYSE BMY opened at $70.16 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.44 and a quick ratio of 1.34. The stock has a market capitalization of $149.81 billion, a P/E ratio of 23.31, a price-to-earnings-growth ratio of 1.46 and a beta of 0.43. Bristol-Myers Squibb has a 1-year low of $53.22 and a 1-year high of $80.59. The business has a fifty day moving average price of $72.95 and a 200 day moving average price of $73.87.
Bristol-Myers Squibb (NYSE:BMY – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The firm had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.50 billion. Bristol-Myers Squibb had a return on equity of 49.31% and a net margin of 14.04%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.93 EPS. Equities research analysts expect that Bristol-Myers Squibb will post 7.51 EPS for the current fiscal year.
Bristol-Myers Squibb Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 1st were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Thursday, June 30th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 71.76%.
Insider Buying and Selling
In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 30,000 shares of the stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $74.04, for a total value of $2,221,200.00. Following the completion of the sale, the chief executive officer now directly owns 551,104 shares in the company, valued at $40,803,740.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.09% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on BMY shares. UBS Group increased their price target on Bristol-Myers Squibb to $73.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Wells Fargo & Company increased their price target on Bristol-Myers Squibb from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, May 17th. Citigroup reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, June 3rd. Raymond James downgraded Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a research report on Friday, June 3rd. They noted that the move was a valuation call. Finally, Bank of America upped their price objective on Bristol-Myers Squibb from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, June 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.57.
About Bristol-Myers Squibb
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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