Gilman Hill Asset Management LLC lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 7.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,421 shares of the biopharmaceutical company’s stock after selling 4,498 shares during the quarter. 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.
A number of other large investors have also recently modified their holdings of BMY. Mizuho Securities Co. Ltd. grew its position in Bristol-Myers Squibb by 239.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 339 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 239 shares during the last quarter. Spectrum Management Group LLC boosted its stake in shares of Bristol-Myers Squibb by 113.1% during the first quarter. Spectrum Management Group LLC now owns 341 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 181 shares during the period. Nauset Wealth Management. LLC bought a new stake in shares of Bristol-Myers Squibb in the first quarter valued at about $27,000. Conrad Siegel Investment Advisors Inc. bought a new position in Bristol-Myers Squibb in the first quarter worth about $28,000. Finally, Evolution Advisers Inc. acquired a new position in shares of Bristol-Myers Squibb during the first quarter valued at about $29,000. Institutional investors own 76.54% of the company’s stock.
Insiders Place Their Bets
In other news, CFO David V. Elkins sold 133,951 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The stock was 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 owns 100,460 shares in the company, valued at $7,162,798. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Bristol-Myers Squibb news, EVP Ann Powell sold 25,000 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $70.75, for a total transaction of $1,768,750.00. Following the completion of the transaction, the executive vice president now owns 50,476 shares in the company, valued at approximately $3,571,177. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David V. Elkins sold 133,951 shares of Bristol-Myers Squibb stock in a transaction that occurred on 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 owns 100,460 shares of the company’s stock, valued at $7,162,798. The disclosure for this sale can be found here. Insiders have sold a total of 233,951 shares of company stock valued at $16,654,206 in the last 90 days. 0.09% of the stock is owned by insiders.
Bristol-Myers Squibb Stock Performance
Bristol-Myers Squibb (NYSE:BMY – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.50 billion. Bristol-Myers Squibb had a net margin of 14.04% and a return on equity of 49.31%. Bristol-Myers Squibb’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 EPS. On average, equities analysts forecast that Bristol-Myers Squibb will post 7.5 earnings per share for the current year.
Bristol-Myers Squibb Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend 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 payout ratio is 71.76%.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the company. Bank of America raised their target price on Bristol-Myers Squibb from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, June 6th. Atlantic Securities upped their price target on Bristol-Myers Squibb from $83.00 to $87.00 and gave the stock an “overweight” rating in a research note on Monday, September 12th. Citigroup reaffirmed a “buy” rating and set a $90.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, June 3rd. Berenberg Bank lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and cut their target price for the company from $82.00 to $76.00 in a report on Wednesday, September 14th. Finally, BMO Capital Markets lifted their price objective on Bristol-Myers Squibb from $92.00 to $94.00 and gave the company an “outperform” rating in a report on Monday, September 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.36.
Bristol-Myers Squibb 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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