iA Global Asset Management Inc. Sells 11,648 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• iA Global Asset Management Inc. has reduced its stake in Bristol Myers Squibb by 11.8%, selling 11,648 shares, bringing its total holdings to 87,084 shares valued at approximately $5.31 million.
• Recent analyst ratings for Bristol Myers Squibb show mixed sentiments, with a majority issuing a hold rating, and price targets ranging from $42 to $68.
• Bristol Myers Squibb announced a quarterly dividend of $0.62 per share, reflecting a 5.4% yield and a dividend payout ratio of 100% as of their last report.

iA Global Asset Management Inc. cut its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 11.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,084 shares of the biopharmaceutical company's stock after selling 11,648 shares during the period. iA Global Asset Management Inc.'s holdings in Bristol Myers Squibb were worth $5,311,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Pinney & Scofield Inc. acquired a new position in shares of Bristol Myers Squibb during the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC bought a new position in Bristol Myers Squibb during the 4th quarter valued at $26,000. Transce3nd LLC acquired a new position in shares of Bristol Myers Squibb during the 4th quarter valued at $28,000. Global Wealth Strategies & Associates increased its position in shares of Bristol Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 275 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Bristol Myers Squibb in the 1st quarter worth $31,000. 76.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Cantor Fitzgerald reissued a "neutral" rating and set a $55.00 target price on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Daiwa Capital Markets cut Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a report on Tuesday. Finally, Piper Sandler began coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Bristol Myers Squibb presently has a consensus rating of "Hold" and a consensus target price of $56.38.

Bristol Myers Squibb Stock Up 1.1%

Shares of BMY stock traded up $0.50 during trading on Thursday, hitting $45.32. 11,839,864 shares of the company were exchanged, compared to its average volume of 13,897,906. The business's 50-day simple moving average is $47.36 and its 200 day simple moving average is $51.98. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The firm has a market capitalization of $92.24 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 2.29 and a beta of 0.36. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (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 quarter last year, the business posted $2.07 EPS. The company's revenue for the quarter was up .6% on a year-over-year basis. As a group, analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's payout ratio is currently 100.00%.

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.