First National Trust Co Has $2.47 Million Stake in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• First National Trust Co reduced its holdings in Bristol Myers Squibb by 26.7%, resulting in ownership of 40,454 shares worth approximately $2.47 million at the end of the first quarter.
• Institutional investors collectively own 76.41% of Bristol Myers Squibb, with significant new investments reported in the last quarter from various hedge funds, including Global Wealth Strategies & Associates which increased its stake by 137.5%.
• Analyst ratings for Bristol Myers Squibb show a consensus rating of "Hold" with an average price target of $58.53, amidst various recent upgrades and downgrades from firms like UBS and Cantor Fitzgerald.

First National Trust Co decreased its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 26.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 40,454 shares of the biopharmaceutical company's stock after selling 14,756 shares during the period. First National Trust Co's holdings in Bristol Myers Squibb were worth $2,467,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Capital International Investors boosted its position in Bristol Myers Squibb by 7.5% during the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock worth $2,593,940,000 after acquiring an additional 3,218,865 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Bristol Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after buying an additional 12,011,983 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Bristol Myers Squibb by 8.6% in the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock valued at $1,638,501,000 after buying an additional 2,131,205 shares during the period. Northern Trust Corp increased its stake in shares of Bristol Myers Squibb by 16.2% during the 4th quarter. Northern Trust Corp now owns 24,658,360 shares of the biopharmaceutical company's stock valued at $1,394,677,000 after acquiring an additional 3,431,248 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Bristol Myers Squibb by 16.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,271,742 shares of the biopharmaceutical company's stock worth $1,259,690,000 after purchasing an additional 3,196,919 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Performance

Shares of BMY traded up $1.05 during trading hours on Monday, reaching $45.28. 7,959,476 shares of the company's stock traded hands, compared to its average volume of 13,512,480. The firm has a market capitalization of $92.16 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 2.33 and a beta of 0.36. The business's fifty day simple moving average is $47.51 and its two-hundred day simple moving average is $52.23. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. During the same period in the prior year, the firm earned $2.07 earnings per share. The business's quarterly revenue was up .6% on a year-over-year basis. Analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were paid a $0.62 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.5%. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 100.00%.

Wall Street Analysts Forecast Growth

BMY has been the topic of several research analyst reports. Jefferies Financial Group reduced 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. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 target price (down previously from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Piper Sandler started coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price target for the company. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Finally, UBS Group dropped their target price on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $57.33.

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.