SP Asset Management Sells 194 Shares of Bristol-Myers Squibb (NYSE:BMY)

SP Asset Management decreased its position in Bristol-Myers Squibb (NYSE:BMYGet Rating) by 2.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 7,071 shares of the biopharmaceutical company’s stock after selling 194 shares during the period. SP Asset Management’s holdings in Bristol-Myers Squibb were worth $516,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of BMY. Cahaba Wealth Management Inc. increased its stake in Bristol-Myers Squibb by 2.5% in the 1st quarter. Cahaba Wealth Management Inc. now owns 5,391 shares of the biopharmaceutical company’s stock worth $405,000 after purchasing an additional 132 shares during the period. Sanders Morris Harris LLC increased its stake in Bristol-Myers Squibb by 0.3% in the 1st quarter. Sanders Morris Harris LLC now owns 40,501 shares of the biopharmaceutical company’s stock worth $2,958,000 after purchasing an additional 137 shares during the period. Bernardo Wealth Planning LLC increased its stake in Bristol-Myers Squibb by 4.3% in the 1st quarter. Bernardo Wealth Planning LLC now owns 3,389 shares of the biopharmaceutical company’s stock worth $247,000 after purchasing an additional 139 shares during the period. Stiles Financial Services Inc grew its position in shares of Bristol-Myers Squibb by 2.3% in the 1st quarter. Stiles Financial Services Inc now owns 6,368 shares of the biopharmaceutical company’s stock worth $465,000 after buying an additional 141 shares during the last quarter. Finally, Pinnacle Bancorp Inc. grew its position in shares of Bristol-Myers Squibb by 8.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 1,982 shares of the biopharmaceutical company’s stock worth $145,000 after buying an additional 146 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BMY shares. Atlantic Securities lifted their price target on Bristol-Myers Squibb from $82.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. BMO Capital Markets raised their price objective on shares of Bristol-Myers Squibb from $87.00 to $92.00 in a report on Monday, May 2nd. Barclays lifted their price target on shares of Bristol-Myers Squibb from $66.00 to $68.00 in a report on Monday, May 2nd. UBS Group boosted their price target on shares of Bristol-Myers Squibb to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Finally, Bank of America boosted their price target on shares of Bristol-Myers Squibb from $78.00 to $80.00 and gave the stock 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.57.

Bristol-Myers Squibb Price Performance

NYSE BMY remained flat at $72.12 on Friday. 8,972,702 shares of the company’s stock traded hands, compared to its average volume of 8,856,563. The business has a 50-day moving average of $75.00 and a two-hundred day moving average of $72.79. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.34 and a current ratio of 1.44. Bristol-Myers Squibb has a fifty-two week low of $53.22 and a fifty-two week high of $80.59. The company has a market capitalization of $153.99 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.40.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.14. Bristol-Myers Squibb had a net margin of 14.04% and a return on equity of 49.31%. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.50 billion. During the same period in the previous year, the company earned $1.93 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 7.53 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 1st were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Thursday, June 30th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 71.76%.

Insider Activity

In related news, CEO Giovanni Caforio sold 30,000 shares of the business’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $74.04, for a total transaction of $2,221,200.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Sandra Leung sold 65,000 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $74.89, for a total transaction of $4,867,850.00. Following the completion of the sale, the executive vice president now owns 308,627 shares of the company’s stock, valued at $23,113,076.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Giovanni Caforio sold 30,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 551,104 shares in the company, valued at approximately $40,803,740.16. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Company Profile

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb (NYSE:BMYGet Rating).

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

Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.