Bristol Myers Squibb Company (NYSE:BMY) Shares Sold by KG&L Capital Management LLC

KG&L Capital Management LLC decreased its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 52.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,515 shares of the biopharmaceutical company's stock after selling 8,177 shares during the quarter. KG&L Capital Management LLC's holdings in Bristol Myers Squibb were worth $459,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Bristol Myers Squibb by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company's stock valued at $10,743,262,000 after acquiring an additional 1,373,209 shares in the last quarter. Capital International Investors raised its holdings in Bristol Myers Squibb by 7.5% in the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock valued at $2,593,940,000 after acquiring an additional 3,218,865 shares in the last quarter. Geode Capital Management LLC raised its holdings in Bristol Myers Squibb by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company's stock valued at $2,505,967,000 after acquiring an additional 1,187,231 shares in the last quarter. Norges Bank acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at approximately $1,989,525,000. Finally, Ameriprise Financial Inc. raised its holdings in Bristol Myers Squibb by 59.9% in the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after acquiring an additional 12,011,983 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Insider Buying and Selling

In other news, EVP Samit Hirawat bought 4,250 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the transaction, the executive vice president now owns 83,513 shares in the company, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BMY. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. UBS Group lowered their target price on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Jefferies Financial Group cut their price objective on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $58.00.

Bristol Myers Squibb Price Performance

Shares of BMY stock traded down $0.31 during trading hours on Friday, hitting $46.34. The company's stock had a trading volume of 21,851,928 shares, compared to its average volume of 12,885,035. The business has a fifty day moving average of $47.90 and a 200-day moving average of $53.91. The stock has a market cap of $94.31 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 1.37 and a beta of 0.38. Bristol Myers Squibb Company has a twelve month low of $39.35 and a twelve month high of $63.33. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65.

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

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.35%. Bristol Myers Squibb's dividend payout ratio (DPR) 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.