Leo Wealth LLC reduced its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 53.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,946 shares of the biopharmaceutical company's stock after selling 8,019 shares during the period. Leo Wealth LLC's holdings in Bristol Myers Squibb were worth $424,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. acquired a new stake in shares of Bristol Myers Squibb during the fourth quarter valued at about $16,651,000. Avaii Wealth Management LLC increased its position in shares of Bristol Myers Squibb by 590.9% during the first quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock worth $4,794,000 after acquiring an additional 67,221 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Bristol Myers Squibb by 1.4% during the first quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company's stock worth $3,967,000 after acquiring an additional 869 shares during the last quarter. Shorepoint Capital Partners LLC raised its position 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Bristol Myers Squibb by 17.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 550,613 shares of the biopharmaceutical company's stock valued at $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.
Insider Buying and Selling at Bristol Myers Squibb
In related news, EVP Samit Hirawat acquired 4,250 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were acquired 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 of the company's stock, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.09% of the company's stock.
Bristol Myers Squibb Stock Performance
BMY opened at $47.36 on Tuesday. The business's 50 day moving average is $47.45 and its 200-day moving average is $53.14. The stock has a market cap of $96.38 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.38 and a beta of 0.36. 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 Company has a twelve month low of $39.93 and a twelve month high of $63.33.
Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. The company had revenue of $11.20 billion for the quarter, compared to analysts' expectations of $10.77 billion. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The business's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($4.40) earnings per share. On average, analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.
Bristol Myers Squibb Dividend Announcement
The firm also recently declared 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 is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.24%. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 92.88%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on BMY. UBS Group cut their target price on 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. Piper Sandler began coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price on the stock. Argus upgraded Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Jefferies Financial Group decreased their price target on 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. Finally, Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $57.69.
Check Out Our Latest Analysis on Bristol Myers Squibb
About Bristol Myers Squibb
(
Free Report)
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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