Clifford Swan Investment Counsel LLC Reduces Stock Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Clifford Swan Investment Counsel LLC trimmed its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 6.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 400,795 shares of the biopharmaceutical company's stock after selling 26,243 shares during the period. Clifford Swan Investment Counsel LLC's holdings in Bristol Myers Squibb were worth $24,444,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BMY. Pinney & Scofield Inc. acquired a new position in Bristol Myers Squibb during the 4th quarter valued at approximately $25,000. Park Square Financial Group LLC acquired a new position in Bristol Myers Squibb during the 4th quarter worth $26,000. Transce3nd LLC acquired a new position in Bristol Myers Squibb during the 4th quarter worth $28,000. Global Wealth Strategies & Associates boosted 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 worth $29,000 after acquiring an additional 275 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Bristol Myers Squibb during the 1st quarter worth $31,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Jefferies Financial Group dropped their price objective on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Piper Sandler began coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 target price on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $55.00 target price (down from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. 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. Finally, Argus raised Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $57.69.

Insiders Place Their Bets

In other news, EVP Samit Hirawat bought 4,250 shares of the stock in a transaction dated Friday, April 25th. The stock was bought at an average cost of $47.58 per share, with a total value of $202,215.00. Following the purchase, the executive vice president owned 83,513 shares of the company's stock, valued at approximately $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.07% of the stock is owned by company insiders.

Bristol Myers Squibb Price Performance

Shares of Bristol Myers Squibb stock traded down $0.36 during midday trading on Monday, hitting $47.00. 574,751 shares of the company were exchanged, compared to its average volume of 12,718,523. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. The firm has a market cap of $95.65 billion, a P/E ratio of 17.60, a PEG ratio of 2.48 and a beta of 0.36. Bristol Myers Squibb Company has a 52 week low of $41.90 and a 52 week high of $63.33. The firm has a 50 day simple moving average of $47.47 and a 200-day simple moving average of $52.89.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $10.77 billion. During the same quarter last year, the company earned ($4.40) EPS. Bristol Myers Squibb's revenue was down 5.6% on a year-over-year basis. Research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a $0.62 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.28%. Bristol Myers Squibb's payout ratio is 92.88%.

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.

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