Gilman Hill Asset Management LLC lowered its position in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 7.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,421 shares of the biopharmaceutical company’s stock after selling 4,498 shares during the period. Gilman Hill Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $4,190,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its holdings in Bristol-Myers Squibb by 2.2% in the 4th quarter. State Street Corp now owns 94,645,972 shares of the biopharmaceutical company’s stock valued at $5,901,176,000 after acquiring an additional 2,020,678 shares during the last quarter. Capital International Investors acquired a new position in Bristol-Myers Squibb during the 1st quarter worth $1,672,455,000. Norges Bank acquired a new position in Bristol-Myers Squibb in the fourth quarter valued at about $1,413,962,000. Primecap Management Co. CA lifted its position in shares of Bristol-Myers Squibb by 1.2% during the first quarter. Primecap Management Co. CA now owns 22,370,375 shares of the biopharmaceutical company’s stock worth $1,633,708,000 after purchasing an additional 255,920 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Bristol-Myers Squibb by 17.0% in the fourth quarter. Deutsche Bank AG now owns 15,372,985 shares of the biopharmaceutical company’s stock valued at $958,504,000 after buying an additional 2,232,347 shares during the period. Hedge funds and other institutional investors own 76.54% of the company’s stock.
Wall Street Analyst Weigh In
BMY has been the subject of a number of recent analyst reports. Atlantic Securities increased their price target on shares of Bristol-Myers Squibb from $83.00 to $87.00 and gave the company an “overweight” rating in a research note on Monday, September 12th. Berenberg Bank downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and dropped their price target for the stock from $82.00 to $76.00 in a research report on Wednesday, September 14th. JPMorgan Chase & Co. boosted their price target on shares of Bristol-Myers Squibb from $80.00 to $85.00 in a research note on Thursday, July 28th. Citigroup reiterated a “buy” rating and issued a $90.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, June 3rd. Finally, Raymond James downgraded shares of Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a report on Friday, June 3rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.36.
Bristol-Myers Squibb Price Performance
Bristol-Myers Squibb (NYSE:BMY – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.14. Bristol-Myers Squibb had a return on equity of 49.31% and a net margin of 14.04%. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.50 billion. During the same period in the prior year, the firm earned $1.93 EPS. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, research analysts forecast that Bristol-Myers Squibb will post 7.5 earnings per share for the current year.
Bristol-Myers Squibb Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be paid a dividend of $0.54 per share. The ex-dividend date is Thursday, October 6th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.04%. Bristol-Myers Squibb’s dividend payout ratio is presently 71.76%.
Insiders Place Their Bets
In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 25,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $69.71, for a total transaction of $1,742,750.00. Following the transaction, the chief executive officer now directly owns 476,104 shares in the company, valued at approximately $33,189,209.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 25,000 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $69.71, for a total transaction of $1,742,750.00. Following the completion of the transaction, the chief executive officer now owns 476,104 shares of the company’s stock, valued at approximately $33,189,209.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David V. Elkins sold 133,951 shares of the company’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $71.30, for a total transaction of $9,550,706.30. Following the completion of the sale, the chief financial officer now directly owns 100,460 shares in the company, valued at approximately $7,162,798. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 233,951 shares of company stock worth $16,654,206. 0.09% of the stock is owned by insiders.
Bristol-Myers Squibb Company Profile
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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