Liberty Wealth Management LLC Has $420,000 Position in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Liberty Wealth Management LLC significantly reduced its stake in Bristol Myers Squibb by 93.5%, now holding shares worth $420,000 after selling 98,822 shares in the first quarter.
• Several institutional investors increased their holdings in Bristol Myers Squibb during the fourth quarter, with Ameriprise Financial boosting its stake by 59.9% and DZ BANK AG by 701.2%.
• Bristol Myers Squibb's latest earnings report showed an EPS of $1.46, exceeding estimates, with a revenue of $12.27 billion, marking a 0.6% increase compared to the same quarter last year.

Liberty Wealth Management LLC reduced its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 93.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,885 shares of the biopharmaceutical company's stock after selling 98,822 shares during the quarter. Liberty Wealth Management LLC's holdings in Bristol Myers Squibb were worth $420,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in BMY. Ameriprise Financial Inc. boosted its holdings in shares of Bristol Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after purchasing an additional 12,011,983 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Bristol Myers Squibb by 701.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock worth $705,309,000 after purchasing an additional 10,913,708 shares during the period. Northern Trust Corp boosted its holdings in shares of Bristol Myers Squibb by 16.2% during the fourth quarter. Northern Trust Corp now owns 24,658,360 shares of the biopharmaceutical company's stock worth $1,394,677,000 after purchasing an additional 3,431,248 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Bristol Myers Squibb by 72.9% during the fourth 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 purchasing an additional 3,275,061 shares during the period. Finally, Capital International Investors boosted its holdings in shares of Bristol Myers Squibb by 7.5% during the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock worth $2,593,940,000 after purchasing an additional 3,218,865 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on BMY shares. Piper Sandler started coverage on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price target for the company. William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. 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 research note on Wednesday, April 23rd. Finally, Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Bristol Myers Squibb has a consensus rating of "Hold" and an average price target of $57.33.

Bristol Myers Squibb Trading Up 2.2%

Shares of BMY stock opened at $44.25 on Monday. Bristol Myers Squibb Company has a 1 year low of $42.96 and a 1 year high of $63.33. The firm's fifty day simple moving average is $47.51 and its 200 day simple moving average is $52.23. The firm has a market capitalization of $90.07 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 2.33 and a beta of 0.36. 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 (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping 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 business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same quarter in the previous year, the firm posted $2.07 earnings per share. Bristol Myers Squibb's revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.6%. Bristol Myers Squibb's payout ratio is 100.00%.

Bristol Myers Squibb 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.

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol Myers Squibb Company (NYSE:BMY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.