Bristol Myers Squibb Company (NYSE:BMY) Shares Sold by Brookstone Capital Management

Brookstone Capital Management trimmed its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 79.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,769 shares of the biopharmaceutical company's stock after selling 147,386 shares during the quarter. Brookstone Capital Management's holdings in Bristol Myers Squibb were worth $2,364,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BMY. Pinney & Scofield Inc. purchased a new stake in Bristol Myers Squibb during the 4th quarter valued at $25,000. Park Square Financial Group LLC purchased a new stake in Bristol Myers Squibb during the 4th quarter valued at $26,000. Fairway Wealth LLC purchased a new stake in Bristol Myers Squibb in the fourth quarter worth $28,000. Transce3nd LLC purchased a new stake in Bristol Myers Squibb in the fourth quarter worth $28,000. Finally, Global Wealth Strategies & Associates increased its stake in Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 275 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Stock Up 2.2%

BMY traded up $1.02 on Tuesday, hitting $47.51. The company had a trading volume of 1,458,926 shares, compared to its average volume of 13,422,026. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. The stock has a market capitalization of $96.68 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 1.39 and a beta of 0.36. The stock has a fifty day moving average price of $47.69 and a 200-day moving average price of $53.50. Bristol Myers Squibb Company has a 12-month low of $39.71 and a 12-month high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.30. The business had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The company's quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the company earned ($4.40) earnings per share. Analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.22%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is presently 92.88%.

Insiders Place Their Bets

In other news, EVP Samit Hirawat bought 4,250 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the acquisition, the executive vice president directly owned 83,513 shares of the company's stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Piper Sandler assumed coverage on Bristol Myers Squibb in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price on the stock. UBS Group reduced their target price on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Cantor Fitzgerald restated a "neutral" rating and issued a $55.00 price objective on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Argus upgraded Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $55.00 price objective (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Two investment analysts have 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 MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $58.00.

About Bristol Myers Squibb

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.