Bristol Myers Squibb Company (NYSE:BMY) Position Trimmed by Integrated Investment Consultants LLC

Key Points

• Integrated Investment Consultants LLC reduced its stake in Bristol Myers Squibb by 97.3%, dropping from 342,898 shares to 9,512 shares, with a reported value of $580,000.
• In contrast, other hedge funds, such as Polar Asset Management and Avaii Wealth Management, have increased their positions, indicating mixed sentiment among institutional investors.
• Bristol Myers Squibb reported earnings of $1.80 per share exceeding analysts' expectations and disclosed a quarterly dividend of $0.62, translating to a 5.12% yield.

Integrated Investment Consultants LLC lowered its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 97.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,512 shares of the biopharmaceutical company's stock after selling 342,898 shares during the period. Integrated Investment Consultants LLC's holdings in Bristol Myers Squibb were worth $580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in BMY. Pinney & Scofield Inc. purchased a new position in shares of Bristol Myers Squibb in the 4th quarter worth about $25,000. Park Square Financial Group LLC bought a new stake in Bristol Myers Squibb in the fourth quarter worth about $26,000. Transce3nd LLC purchased a new position in Bristol Myers Squibb in the fourth quarter valued at about $28,000. Global Wealth Strategies & Associates grew 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 acquiring an additional 275 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Bristol Myers Squibb during the 1st quarter worth approximately $31,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BMY has been the subject of a number of research reports. UBS Group cut their target price on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Morgan Stanley lowered their target price on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating on the stock in a report on Thursday, July 10th. Piper Sandler started coverage on Bristol Myers Squibb in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price target for the company. The Goldman Sachs Group reiterated a "neutral" rating and set a $55.00 price objective (down from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Finally, Argus raised Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $58.53.

Bristol Myers Squibb Stock Down 1.9%

BMY stock traded down $0.91 during midday trading on Monday, reaching $47.52. 7,442,527 shares of the company were exchanged, compared to its average volume of 11,713,821. The stock's 50-day simple moving average is $47.67 and its 200 day simple moving average is $52.59. Bristol Myers Squibb Company has a 1-year low of $44.00 and a 1-year high of $63.33. 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 company has a market cap of $96.71 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 2.53 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. The company had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the firm earned ($4.40) EPS. On average, equities analysts forecast 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 will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.22%. Bristol Myers Squibb's payout ratio is currently 92.88%.

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.