Bristol Myers Squibb Company (NYSE:BMY) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. cut its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 422,774 shares of the biopharmaceutical company's stock after selling 13,227 shares during the quarter. Bristol Myers Squibb accounts for 0.8% of Grimes & Company Inc.'s investment portfolio, making the stock its 26th largest holding. Grimes & Company Inc.'s holdings in Bristol Myers Squibb were worth $25,785,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Truist Financial Corp lifted its holdings in Bristol Myers Squibb by 3.9% during the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company's stock worth $90,335,000 after purchasing an additional 60,365 shares in the last quarter. Advyzon Investment Management LLC bought a new position in shares of Bristol Myers Squibb during the 4th quarter valued at about $458,000. Polar Asset Management Partners Inc. bought a new position in shares of Bristol Myers Squibb during the 4th quarter valued at about $16,651,000. Strategic Financial Concepts LLC bought a new position in shares of Bristol Myers Squibb during the 4th quarter valued at about $4,377,000. Finally, Convergence Investment Partners LLC grew its position in Bristol Myers Squibb by 8.2% during the 4th quarter. Convergence Investment Partners LLC now owns 90,493 shares of the biopharmaceutical company's stock worth $5,118,000 after acquiring an additional 6,888 shares during the last quarter. Institutional investors own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

BMY has been the topic of several recent research reports. Jefferies Financial Group reduced their price target on 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. The Goldman Sachs Group reiterated a "neutral" rating and issued a $55.00 price objective (down from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. Piper Sandler started coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price objective on the stock. UBS Group lowered their target price on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Argus upgraded Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Two equities research analysts have 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $58.00.

Bristol Myers Squibb Trading Down 0.9%

NYSE BMY traded down $0.41 during trading on Wednesday, hitting $46.82. The stock had a trading volume of 15,848,711 shares, compared to its average volume of 12,966,605. 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 $95.29 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 1.39 and a beta of 0.38. Bristol Myers Squibb Company has a one year low of $39.35 and a one year high of $63.33. The stock has a 50 day simple moving average of $48.49 and a 200 day simple moving average of $54.58.

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

Bristol Myers Squibb Announces Dividend

The company 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 5.30%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is currently 92.88%.

Insiders Place Their Bets

In other Bristol Myers Squibb 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 bought at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the transaction, the executive vice president now directly owns 83,513 shares of the company's stock, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.09% of the company's stock.

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.