Bristol Myers Squibb Company (NYSE:BMY) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp has reduced its holdings in Bristol Myers Squibb by 9.6%, selling 244,658 shares and now owning approximately 2.3 million shares worth around $140.17 million.
• The company reported a Q2 EPS of $1.46, beating the consensus estimate of $1.07, with quarterly revenue reaching $12.27 billion, surpassing expectations of $11.32 billion.
• Bristol Myers Squibb has declared a quarterly dividend of $0.62, reflecting an annualized yield of 5.6% and a dividend payout ratio of 100%.

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 9.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,298,304 shares of the biopharmaceutical company's stock after selling 244,658 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.11% of Bristol Myers Squibb worth $140,174,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BMY. Thoroughbred Financial Services LLC boosted its position in Bristol Myers Squibb by 1.1% during the fourth quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company's stock worth $1,004,000 after acquiring an additional 190 shares during the last quarter. Marcum Wealth LLC boosted its position in Bristol Myers Squibb by 1.0% during the first quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock worth $1,177,000 after acquiring an additional 193 shares during the last quarter. Beacon Investment Advisory Services Inc. boosted its position in Bristol Myers Squibb by 2.7% during the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock worth $492,000 after acquiring an additional 212 shares during the last quarter. 1858 Wealth Management LLC boosted its holdings in Bristol Myers Squibb by 3.6% in the 1st quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company's stock valued at $392,000 after purchasing an additional 221 shares during the last quarter. Finally, Tompkins Financial Corp boosted its holdings in Bristol Myers Squibb by 2.5% in the 1st quarter. Tompkins Financial Corp now owns 9,151 shares of the biopharmaceutical company's stock valued at $558,000 after purchasing an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on BMY shares. Cantor Fitzgerald reiterated a "neutral" rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Piper Sandler began coverage on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price objective on the stock. The Goldman Sachs Group reiterated a "neutral" rating and set a $55.00 target price (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Finally, Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $57.33.

Bristol Myers Squibb Stock Up 2.6%

Shares of NYSE BMY traded up $1.16 during mid-day trading on Monday, reaching $45.39. The company had a trading volume of 14,656,292 shares, compared to its average volume of 13,625,376. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The firm has a 50 day simple moving average of $47.51 and a two-hundred day simple moving average of $52.23. The stock has a market cap of $92.39 billion, a P/E ratio of 18.30, a PEG ratio of 2.33 and a beta of 0.36. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. The firm had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. Bristol Myers Squibb's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.07 EPS. Sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

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

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.