Envestnet Portfolio Solutions Inc. Sells 66,286 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Envestnet Portfolio Solutions Inc. lowered its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 27.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 175,231 shares of the biopharmaceutical company's stock after selling 66,286 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Bristol Myers Squibb were worth $10,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in BMY. Norges Bank bought a new stake in Bristol Myers Squibb in the fourth quarter worth about $1,989,525,000. Ameriprise Financial Inc. lifted its stake in Bristol Myers Squibb by 59.9% in the fourth 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 during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake 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 worth $705,309,000 after purchasing an additional 10,913,708 shares during the last quarter. Wellington Management Group LLP lifted its stake in Bristol Myers Squibb by 3,880.0% in the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock worth $338,088,000 after purchasing an additional 5,827,317 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Bristol Myers Squibb during the fourth quarter worth approximately $257,618,000. Institutional investors own 76.41% of the company's stock.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP Samit Hirawat bought 4,250 shares of the stock in a transaction on Friday, April 25th. The stock was bought at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the purchase, the executive vice president now directly owns 83,513 shares in the company, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by insiders.

Bristol Myers Squibb Price Performance

Shares of BMY opened at $46.82 on Friday. The company has a market cap of $95.29 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 1.39 and a beta of 0.38. Bristol Myers Squibb Company has a twelve month low of $39.35 and a twelve month high of $63.33. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65. The company has a 50 day moving average of $48.28 and a two-hundred day moving average of $54.43.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. The company had revenue of $11.20 billion during 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%. Bristol Myers Squibb's revenue was down 5.6% compared to the same quarter last year. During the same period last year, the firm earned ($4.40) earnings per share. As a group, analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a $0.62 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.30%. Bristol Myers Squibb's dividend payout ratio (DPR) is 92.88%.

Analyst Ratings Changes

A number of equities analysts have recently commented on BMY shares. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. 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. William Blair reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Jefferies Financial Group reduced their target price 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. Finally, 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 research report on Friday, April 11th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Bristol Myers Squibb 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.

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