Gilman Hill Asset Management LLC lowered its stake in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 7.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of 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 purchasing an additional 2,020,678 shares in the last quarter. Capital International Investors bought a new stake in Bristol-Myers Squibb during the 1st quarter valued at $1,672,455,000. Norges Bank purchased a new position in Bristol-Myers Squibb in the fourth quarter worth $1,413,962,000. Primecap Management Co. CA boosted its position in 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 valued at $1,633,708,000 after buying an additional 255,920 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of Bristol-Myers Squibb by 17.0% during the fourth quarter. Deutsche Bank AG now owns 15,372,985 shares of the biopharmaceutical company’s stock valued at $958,504,000 after acquiring an additional 2,232,347 shares during the last quarter. Institutional investors and hedge funds own 76.54% of the company’s stock.
Insider Transactions at Bristol-Myers Squibb
In other Bristol-Myers Squibb news, EVP Ann Powell sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $70.75, for a total value of $1,768,750.00. Following the transaction, the executive vice president now owns 50,476 shares of the company’s stock, valued at approximately $3,571,177. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO David V. Elkins sold 133,951 shares of the firm’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 value of $9,550,706.30. Following the transaction, 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 SEC, which is accessible through this hyperlink. Also, EVP Ann Powell sold 25,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $70.75, for a total value of $1,768,750.00. Following the transaction, the executive vice president now owns 50,476 shares in the company, valued at approximately $3,571,177. The disclosure for this sale can be found here. Insiders have sold 233,951 shares of company stock valued at $16,654,206 in the last ninety days. Corporate insiders own 0.09% of the company’s stock.
Bristol-Myers Squibb Price Performance
Bristol-Myers Squibb (NYSE:BMY – Get Rating) last issued its quarterly earnings results 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. Bristol-Myers Squibb had a net margin of 14.04% and a return on equity of 49.31%. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.50 billion. During the same period in the previous year, the firm earned $1.93 EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, sell-side 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. Stockholders of record on Friday, October 7th will be given 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 currently 71.76%.
Analyst Ratings Changes
BMY has been the topic of a number of recent research reports. Citigroup reissued a “buy” rating and issued a $90.00 target price on shares of Bristol-Myers Squibb in a report on Friday, June 3rd. BMO Capital Markets lifted their price target on Bristol-Myers Squibb from $92.00 to $94.00 and gave the company an “outperform” rating in a report on Monday, September 12th. JPMorgan Chase & Co. upped their target price on Bristol-Myers Squibb from $80.00 to $85.00 in a research note on Thursday, July 28th. Raymond James cut 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. Finally, Atlantic Securities raised their price target on Bristol-Myers Squibb from $83.00 to $87.00 and gave the company an “overweight” rating in a research note on Monday, September 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average 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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