American Alpha Advisors LLC trimmed its stake in Bristol Myers Squibb Company (NYSE:BMY – Free Report) by 7.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 8,455 shares of the biopharmaceutical company’s stock after selling 666 shares during the quarter. American Alpha Advisors LLC’s holdings in Bristol Myers Squibb were worth $516,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. acquired a new position in shares of Bristol Myers Squibb during the fourth quarter valued at $25,000. Park Square Financial Group LLC acquired a new position in shares of Bristol Myers Squibb during the fourth quarter valued at $26,000. Global Wealth Strategies & Associates increased its holdings in shares of Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 275 shares during the period. Transce3nd LLC acquired a new position in Bristol Myers Squibb during the fourth quarter worth about $28,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Bristol Myers Squibb during the first quarter worth about $31,000. 76.41% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on BMY. William Blair reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Piper Sandler assumed coverage on Bristol Myers Squibb in a report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 target price on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Wall Street Zen cut Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol Myers Squibb has an average rating of “Hold” and an average target price of $56.38.
Bristol Myers Squibb Stock Up 1.3%
Shares of Bristol Myers Squibb stock opened at $45.96 on Friday. The firm has a market cap of $93.55 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 2.35 and a beta of 0.36. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. The stock has a 50-day simple moving average of $47.32 and a 200-day simple moving average of $51.87.
Bristol Myers Squibb (NYSE:BMY – Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.39. The business had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $2.07 EPS. On average, equities research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.
Bristol Myers Squibb Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.4%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb’s payout ratio is currently 100.00%.
Bristol Myers Squibb 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.
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