Blair William & Co. IL Decreases Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Blair William & Co. IL reduced its holdings in Bristol Myers Squibb by 7.2%, selling 53,194 shares, leaving them with 681,775 shares worth $41.58 million as of the end of the last quarter.
• Several other hedge funds increased their stakes in Bristol Myers Squibb significantly, with Ameriprise Financial raising its stake by 59.9% and DZ BANK AG increasing by 701.2%.
• Bristol Myers Squibb reported earnings of $1.46 per share, surpassing the expected $1.07, alongside a quarterly revenue of $12.27 billion, which was higher than anticipated.

Blair William & Co. IL trimmed its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 7.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 681,775 shares of the biopharmaceutical company's stock after selling 53,194 shares during the quarter. Blair William & Co. IL's holdings in Bristol Myers Squibb were worth $41,581,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BMY. Ameriprise Financial Inc. increased its stake in shares of Bristol Myers Squibb by 59.9% in the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after buying an additional 12,011,983 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Bristol Myers Squibb by 701.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock worth $705,309,000 after buying an additional 10,913,708 shares during the period. Northern Trust Corp increased its stake in shares of Bristol Myers Squibb by 16.2% in the fourth quarter. Northern Trust Corp now owns 24,658,360 shares of the biopharmaceutical company's stock worth $1,394,677,000 after buying an additional 3,431,248 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in shares of Bristol Myers Squibb by 72.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 7,769,227 shares of the biopharmaceutical company's stock worth $439,427,000 after buying an additional 3,275,061 shares during the period. Finally, Capital International Investors increased its stake in shares of Bristol Myers Squibb by 7.5% in the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock worth $2,593,940,000 after buying an additional 3,218,865 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BMY has been the topic of several analyst reports. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $55.00 target price (down from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Citigroup decreased their target price on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday. Cantor Fitzgerald reissued a "neutral" rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Finally, Piper Sandler assumed coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective on the stock. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $57.33.

Bristol Myers Squibb Stock Up 2.2%

Shares of NYSE:BMY opened at $44.25 on Monday. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The stock has a fifty day simple moving average of $47.51 and a two-hundred day simple moving average of $52.23. The stock has a market capitalization of $90.07 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.33 and a beta of 0.36. 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 - Get Free Report) last announced 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 net margin of 10.58% and a return on equity of 80.04%. The company had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the prior year, the firm posted $2.07 EPS. Bristol Myers Squibb's revenue for the quarter was up .6% on a year-over-year basis. On average, research analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is 100.00%.

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.

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