Sumitomo Mitsui Financial Group Inc. Trims Position in Bristol Myers Squibb Company $BMY

Sumitomo Mitsui Financial Group Inc. lessened its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 2.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,558 shares of the biopharmaceutical company’s stock after selling 996 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in Bristol Myers Squibb were worth $2,413,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BMY. Legacy Financial Advisors Inc. grew its holdings in shares of Bristol Myers Squibb by 6.5% during the first quarter. Legacy Financial Advisors Inc. now owns 13,381 shares of the biopharmaceutical company’s stock worth $816,000 after purchasing an additional 813 shares in the last quarter. bLong Financial LLC grew its holdings in shares of Bristol Myers Squibb by 3.7% during the first quarter. bLong Financial LLC now owns 13,963 shares of the biopharmaceutical company’s stock worth $852,000 after purchasing an additional 500 shares in the last quarter. CWS Financial Advisors LLC purchased a new position in shares of Bristol Myers Squibb during the first quarter worth about $205,000. Wellington Management Group LLP grew its holdings in shares of Bristol Myers Squibb by 297.0% during the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock worth $1,447,198,000 after purchasing an additional 17,750,938 shares in the last quarter. Finally, Cornerstone Select Advisors LLC lifted its position in Bristol Myers Squibb by 2.0% in the 1st quarter. Cornerstone Select Advisors LLC now owns 29,178 shares of the biopharmaceutical company’s stock worth $1,780,000 after buying an additional 568 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Trading Down 0.5%

NYSE BMY opened at $48.19 on Tuesday. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The stock has a market cap of $98.09 billion, a P/E ratio of 19.43, a P/E/G ratio of 2.48 and a beta of 0.36. The stock’s fifty day moving average price is $47.21 and its 200-day moving average price is $51.32. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. The company had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $11.32 billion. During the same period last year, the firm posted $2.07 earnings per share. Bristol Myers Squibb’s revenue was up .6% compared to the same quarter last year. As a group, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were issued a $0.62 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.1%. Bristol Myers Squibb’s dividend payout ratio is currently 100.00%.

Analyst Ratings Changes

A number of research firms recently weighed in on BMY. Citigroup dropped their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, August 1st. William Blair restated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Piper Sandler initiated coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 target price for the company. Argus upgraded Bristol Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Finally, Wall Street Zen downgraded Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of “Hold” and an average price target of $56.38.

Bristol Myers Squibb Company 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.