Bessemer Group Inc. Has $4.06 Million Stock Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Bessemer Group Inc. cut its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 36.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,560 shares of the biopharmaceutical company's stock after selling 38,240 shares during the period. Bessemer Group Inc.'s holdings in Bristol Myers Squibb were worth $4,060,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Polar Asset Management Partners Inc. acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at approximately $16,651,000. Avaii Wealth Management LLC raised its holdings in shares of Bristol Myers Squibb by 590.9% during the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock valued at $4,794,000 after purchasing an additional 67,221 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Bristol Myers Squibb by 1.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company's stock valued at $3,967,000 after purchasing an additional 869 shares in the last quarter. Shorepoint Capital Partners LLC lifted its stake in shares of Bristol Myers Squibb by 2.2% in the 4th quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company's stock valued at $3,305,000 after purchasing an additional 1,248 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Bristol Myers Squibb by 17.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 550,613 shares of the biopharmaceutical company's stock worth $33,582,000 after purchasing an additional 80,087 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bristol Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the business's stock in a transaction 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 purchase, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is currently owned by insiders.

Bristol Myers Squibb Stock Performance

BMY traded up $1.20 on Tuesday, hitting $47.49. 21,026,627 shares of the stock traded hands, compared to its average volume of 12,914,919. The business has a fifty day moving average price of $47.80 and a two-hundred day moving average price of $53.80. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. The firm has a market capitalization of $96.65 billion, a PE ratio of 17.79, a P/E/G ratio of 1.37 and a beta of 0.36. Bristol Myers Squibb Company has a 52 week low of $39.35 and a 52 week high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $11.20 billion for the quarter, compared to analysts' expectations of $10.77 billion. During the same period in the previous year, the business posted ($4.40) earnings per share. Bristol Myers Squibb's quarterly revenue was down 5.6% on a year-over-year basis. On average, research analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.22%. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 92.88%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. The Goldman Sachs Group restated a "neutral" rating and issued a $55.00 target price (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. UBS Group dropped their price target on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Jefferies Financial Group reduced their price objective on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Bristol Myers Squibb has an average rating of "Hold" and a consensus price target of $58.00.

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.