Clark Estates Inc. NY Sells 13,112 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Clark Estates Inc. NY reduced its stake in Bristol Myers Squibb by 27.5% during the first quarter, bringing its total holdings to 34,538 shares.
• Multiple institutional investors have adjusted their positions, with Global Wealth Strategies & Associates increasing their stake by 137.5% in the first quarter.
• Wall Street analysts have issued mixed ratings on Bristol Myers Squibb, with a consensus rating of "Hold" and an average price target of $58.53.

Clark Estates Inc. NY lessened its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 27.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,538 shares of the biopharmaceutical company's stock after selling 13,112 shares during the period. Clark Estates Inc. NY's holdings in Bristol Myers Squibb were worth $2,106,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Ameriprise Financial Inc. increased its holdings in shares of Bristol Myers Squibb by 59.9% during the 4th 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 last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Bristol Myers Squibb by 701.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock valued at $705,309,000 after acquiring an additional 10,913,708 shares in the last quarter. Wellington Management Group LLP increased its holdings in Bristol Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock valued at $338,088,000 after purchasing an additional 5,827,317 shares in the last quarter. Northern Trust Corp raised its position in 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 valued at $1,394,677,000 after purchasing an additional 3,431,248 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of Bristol Myers Squibb by 72.9% during 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 purchasing an additional 3,275,061 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Stock Up 2.2%

Shares of NYSE:BMY traded up $0.94 during trading on Friday, reaching $44.25. 18,626,740 shares of the company traded hands, compared to its average volume of 12,693,902. The firm has a fifty day simple moving average of $47.56 and a 200 day simple moving average of $52.36. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The firm has a market cap of $90.05 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 2.30 and a beta of 0.36. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.39. The company had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.60% and a net margin of 10.58%. The company's revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.07 EPS. 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 announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued 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 5.6%. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 92.88%.

Analyst Upgrades and Downgrades

BMY has been the topic of several analyst reports. William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Jefferies Financial Group decreased their target price 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. Piper Sandler began coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price target on the stock. UBS Group lowered their target price on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price target (down previously from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Bristol Myers Squibb currently has an average rating of "Hold" and a consensus target price of $57.33.

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.