Gulf International Bank UK Ltd Has $7.24 Million Position in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Bristol Myers Squibb by 26.5% in the first quarter, holding 118,680 shares valued at approximately $7.24 million.
• Institutional investors and hedge funds own 76.41% of Bristol Myers Squibb's stock, highlighting significant interest in the biopharmaceutical company.
• Bristol Myers Squibb reported an earnings per share (EPS) of $1.46 for the last quarter, exceeding expectations by $0.39, with a revenue of $12.27 billion.

Gulf International Bank UK Ltd cut its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 26.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,680 shares of the biopharmaceutical company's stock after selling 42,706 shares during the period. Gulf International Bank UK Ltd's holdings in Bristol Myers Squibb were worth $7,238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew 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 acquiring an additional 12,011,983 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Bristol Myers Squibb by 701.2% in the 4th 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 purchasing an additional 10,913,708 shares during the period. Nuveen LLC acquired a new position in shares of Bristol Myers Squibb in the 1st quarter valued at about $624,369,000. Northern Trust Corp raised its stake in 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 worth $1,394,677,000 after buying an additional 3,431,248 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its stake in Bristol Myers Squibb by 72.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 7,769,227 shares of the biopharmaceutical company's stock worth $439,427,000 after buying an additional 3,275,061 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Trading Up 1.2%

Shares of Bristol Myers Squibb stock opened at $46.49 on Wednesday. The stock has a market cap of $94.63 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 2.35 and a beta of 0.36. The company has a fifty day simple moving average of $47.23 and a 200-day simple moving average of $51.68. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $11.32 billion. During the same quarter last year, the business earned $2.07 EPS. The business's revenue was up .6% on a year-over-year basis. On average, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 100.00%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Piper Sandler assumed 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. Jefferies Financial Group lowered 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. Daiwa Capital Markets cut Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research note on Tuesday, August 5th. Finally, Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Bristol Myers Squibb has an average rating of "Hold" and a consensus target price of $56.38.

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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