Bristol Myers Squibb Company (NYSE:BMY) Stock Position Trimmed by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 8.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,233,587 shares of the biopharmaceutical company's stock after selling 297,525 shares during the quarter. Envestnet Asset Management Inc. owned about 0.16% of Bristol Myers Squibb worth $197,216,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Bristol Myers Squibb during the fourth quarter worth about $1,989,525,000. Ameriprise Financial Inc. increased its position in 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 purchasing an additional 12,011,983 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Bristol Myers Squibb by 701.2% in the fourth 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 buying an additional 10,913,708 shares during the period. Wellington Management Group LLP lifted its position in Bristol Myers Squibb by 3,880.0% during the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock valued at $338,088,000 after buying an additional 5,827,317 shares in the last quarter. Finally, Schroder Investment Management Group grew its stake in Bristol Myers Squibb by 49.7% during the fourth quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company's stock worth $639,837,000 after buying an additional 3,787,075 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. UBS Group reduced their target price on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Jefferies Financial Group decreased their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group reiterated a "neutral" rating and set a $55.00 target price (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Piper Sandler started coverage on Bristol Myers Squibb in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price target for the company. Finally, 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. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $58.00.

Bristol Myers Squibb Stock Up 1.4%

NYSE:BMY traded up $0.64 during mid-day trading on Wednesday, reaching $47.68. The stock had a trading volume of 11,733,095 shares, compared to its average volume of 12,856,229. 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 company has a market capitalization of $97.03 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 1.38 and a beta of 0.36. Bristol Myers Squibb Company has a 1-year low of $39.71 and a 1-year high of $63.33. The stock's 50 day simple moving average is $47.65 and its two-hundred day simple moving average is $53.46.

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, beating analysts' consensus estimates 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 period in the previous year, the business earned ($4.40) EPS. The business's quarterly revenue was down 5.6% on a year-over-year basis. Equities analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.20%. 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 related 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 completion of the acquisition, the executive vice president owned 83,513 shares of the company's stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.07% of the stock is currently owned by company insiders.

Bristol Myers Squibb 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.