LBP AM SA reduced its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 3.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 423,719 shares of the biopharmaceutical company's stock after selling 15,400 shares during the quarter. LBP AM SA's holdings in Bristol Myers Squibb were worth $25,843,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Bristol Myers Squibb by 0.7% during 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 purchasing an additional 1,373,209 shares during the period. Capital International Investors lifted its stake 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 worth $2,593,940,000 after acquiring an additional 3,218,865 shares during the period. Geode Capital Management LLC lifted its stake 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 worth $2,505,967,000 after acquiring an additional 1,187,231 shares during the period. Norges Bank purchased a new stake in Bristol Myers Squibb in the fourth quarter worth about $1,989,525,000. Finally, Ameriprise Financial Inc. lifted its stake 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 worth $1,814,341,000 after acquiring an additional 12,011,983 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.
Bristol Myers Squibb Stock Down 3.3%
Shares of BMY traded down $1.61 during mid-day trading on Friday, hitting $46.91. 13,670,701 shares of the company traded hands, compared to its average volume of 12,830,370. Bristol Myers Squibb Company has a 1-year low of $39.93 and a 1-year high of $63.33. The business has a 50 day moving average of $47.51 and a 200 day moving average of $53.25. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65. The company has a market capitalization of $95.47 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 2.35 and a beta of 0.36.
Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. During the same quarter in the prior year, the company earned ($4.40) EPS. Bristol Myers Squibb's quarterly revenue was down 5.6% on a year-over-year basis. Equities research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current year.
Bristol Myers Squibb Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.29%. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 92.88%.
Insiders Place Their Bets
In other Bristol Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the business's stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president owned 83,513 shares in the company, valued at $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on BMY shares. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $55.00 price objective on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. UBS Group lowered their price objective on shares of 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. The Goldman Sachs Group reiterated a "neutral" rating and issued a $55.00 target price (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Finally, Jefferies Financial Group reduced their target price on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Bristol Myers Squibb presently has an average rating of "Hold" and an average target price of $57.69.
Check Out Our Latest Stock Analysis on BMY
Bristol Myers Squibb Profile
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Free Report)
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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