Bristol Myers Squibb Company (NYSE:BMY) Stock Position Cut by Moors & Cabot Inc.

Key Points

• Moors & Cabot Inc. sold 11,646 shares of Bristol Myers Squibb, reducing its holdings by 13.1% to a total of 77,583 shares, valued at $4.73 million.
• Bristol Myers Squibb's recent earnings report showed an EPS of $1.46, surpassing estimates, with revenue of $12.27 billion, indicating a year-over-year revenue growth of 0.6%.
• The company announced a quarterly dividend of $0.62 per share, providing a 5.7% dividend yield, with a payout ratio of 92.88%.

Moors & Cabot Inc. decreased its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 13.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 77,583 shares of the biopharmaceutical company's stock after selling 11,646 shares during the period. Moors & Cabot Inc.'s holdings in Bristol Myers Squibb were worth $4,732,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Pinney & Scofield Inc. purchased a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at approximately $25,000. Park Square Financial Group LLC acquired a new stake in Bristol Myers Squibb during the 4th quarter worth approximately $26,000. Transce3nd LLC acquired a new stake in Bristol Myers Squibb during the 4th quarter worth approximately $28,000. Global Wealth Strategies & Associates increased its position in shares of Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 275 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Bristol Myers Squibb in the 1st quarter valued at approximately $31,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Citigroup dropped their target price on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday. Cantor Fitzgerald restated a "neutral" rating and set a $55.00 target price on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. The Goldman Sachs Group restated a "neutral" rating and set a $55.00 target price (down previously from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. Finally, Piper Sandler assumed coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 target price for the company. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $56.38.

Bristol Myers Squibb Stock Up 0.6%

Shares of BMY stock traded up $0.29 on Tuesday, hitting $45.69. The stock had a trading volume of 6,486,373 shares, compared to its average volume of 13,515,192. The firm has a market capitalization of $92.99 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 2.33 and a beta of 0.36. The stock's 50 day moving average is $47.48 and its 200-day moving average is $52.15. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. 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 posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion for 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%. The firm's quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $2.07 earnings per share. As a group, research analysts expect 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 announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is 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.