Bristol-Myers Squibb (NYSE:BMY) Position Lessened by SouthState Corp

SouthState Corp lowered its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,503 shares of the biopharmaceutical company’s stock after selling 894 shares during the quarter. SouthState Corp’s holdings in Bristol-Myers Squibb were worth $1,423,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First City Capital Management Inc. increased its stake in shares of Bristol-Myers Squibb by 11.3% in the third quarter. First City Capital Management Inc. now owns 20,945 shares of the biopharmaceutical company’s stock valued at $1,084,000 after buying an additional 2,120 shares in the last quarter. Prospera Financial Services Inc grew its position in shares of Bristol-Myers Squibb by 40.0% during the 3rd quarter. Prospera Financial Services Inc now owns 73,255 shares of the biopharmaceutical company’s stock worth $3,791,000 after buying an additional 20,916 shares during the period. Verity & Verity LLC bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at $226,000. Meeder Asset Management Inc. raised its position in shares of Bristol-Myers Squibb by 93.8% during the third quarter. Meeder Asset Management Inc. now owns 31,672 shares of the biopharmaceutical company’s stock worth $1,639,000 after purchasing an additional 15,329 shares during the period. Finally, OneAscent Financial Services LLC bought a new position in Bristol-Myers Squibb in the third quarter valued at approximately $458,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $58.21 on Wednesday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08. The firm has a 50 day moving average of $53.08 and a 200 day moving average of $47.47. The company has a market capitalization of $118.06 billion, a P/E ratio of -16.21, a price-to-earnings-growth ratio of 15.08 and a beta of 0.44. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $2.00 EPS. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -66.85%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price for the company. UBS Group upped their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $54.07.

Insider Activity at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares in the company, valued at $3,395,499.03. This represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Company Profile

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.