Bristol Myers Squibb Company (NYSE:BMY) Shares Sold by Asset Dedication LLC

Asset Dedication LLC decreased its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 54.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 6,612 shares of the biopharmaceutical company's stock after selling 7,875 shares during the period. Asset Dedication LLC's holdings in Bristol Myers Squibb were worth $403,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BMY. Pinney & Scofield Inc. purchased a new position in Bristol Myers Squibb during the 4th quarter valued at about $25,000. Park Square Financial Group LLC purchased a new position in Bristol Myers Squibb during the 4th quarter valued at about $26,000. Transce3nd LLC purchased a new position in Bristol Myers Squibb during the 4th quarter valued at about $28,000. Global Wealth Strategies & Associates increased its position in Bristol Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 275 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Bristol Myers Squibb during the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

Shares of BMY stock traded up $0.86 during trading hours on Wednesday, hitting $47.29. The company's stock had a trading volume of 9,020,311 shares, compared to its average volume of 12,797,529. The company has a 50 day moving average of $47.43 and a 200 day moving average of $53.10. The stock has a market cap of $96.23 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.42 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 12-month low of $40.09 and a 12-month 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 EPS for the quarter, beating the consensus estimate of $1.50 by $0.30. The business had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The business's revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($4.40) EPS. On average, sell-side analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.24%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 92.88%.

Insider Activity at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the company's stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the acquisition, the executive vice president directly owned 83,513 shares of the company's stock, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.07% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BMY. Jefferies Financial Group cut their price objective on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Piper Sandler began coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price objective on the stock. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. Two investment 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. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $57.69.

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.