Bristol Myers Squibb Company (NYSE:BMY) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,865,073 shares of the biopharmaceutical company's stock after acquiring an additional 2,131,205 shares during the quarter. Bank of New York Mellon Corp owned 1.32% of Bristol Myers Squibb worth $1,638,501,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pinney & Scofield Inc. purchased a new position in Bristol Myers Squibb in the 4th quarter valued at about $25,000. Park Square Financial Group LLC purchased a new stake in shares of Bristol Myers Squibb during the fourth quarter worth $26,000. Global Wealth Strategies & Associates raised its position in shares of Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 275 shares during the last quarter. Transce3nd LLC purchased a new position in shares of Bristol Myers Squibb in the fourth quarter worth about $28,000. Finally, Fairway Wealth LLC acquired a new position in Bristol Myers Squibb during the fourth quarter worth about $28,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Stock Performance

Shares of NYSE BMY traded down $0.62 during midday trading on Friday, reaching $47.02. 7,024,133 shares of the company were exchanged, compared to its average volume of 12,882,799. The stock has a market cap of $95.68 billion, a P/E ratio of 17.61, a PEG ratio of 1.39 and a beta of 0.36. Bristol Myers Squibb Company has a 1 year low of $39.50 and a 1 year high of $63.33. The stock has a fifty day simple moving average of $47.73 and a 200 day simple moving average of $53.62. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The company had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. During the same period last year, the business posted ($4.40) EPS. The company's revenue was down 5.6% on a year-over-year basis. On average, research analysts forecast 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 will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.27%. Bristol Myers Squibb's dividend payout ratio (DPR) is 92.88%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Piper Sandler initiated coverage on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price objective on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $55.00 price target (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $55.00 price objective on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $58.00.

Insider Activity

In other news, EVP Samit Hirawat acquired 4,250 shares of Bristol Myers Squibb stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the transaction, the executive vice president directly owned 83,513 shares in the company, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by company insiders.

About Bristol Myers Squibb

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.