M&T Bank Corp Lowers Position in Bristol Myers Squibb Company (NYSE:BMY)

M&T Bank Corp decreased its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 5.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 836,263 shares of the biopharmaceutical company's stock after selling 48,250 shares during the quarter. M&T Bank Corp's holdings in Bristol Myers Squibb were worth $51,003,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BMY. Pinney & Scofield Inc. purchased a new position in shares of Bristol Myers Squibb in the fourth quarter valued at about $25,000. Park Square Financial Group LLC bought a new position in shares of Bristol Myers Squibb during the fourth quarter worth $26,000. Fairway Wealth LLC bought a new position in shares of Bristol Myers Squibb during the 4th quarter valued at about $28,000. Transce3nd LLC bought a new position in shares of Bristol Myers Squibb during the 4th quarter valued at about $28,000. Finally, Global Wealth Strategies & Associates boosted its holdings in shares of Bristol Myers Squibb by 137.5% during 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. Institutional investors own 76.41% of the company's stock.

Insider Activity

In other news, EVP Samit Hirawat acquired 4,250 shares of Bristol Myers Squibb stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president directly owned 83,513 shares of the company's stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.09% of the company's stock.

Bristol Myers Squibb Trading Up 1.2%

BMY stock traded up $0.58 during midday trading on Tuesday, reaching $47.07. The company's stock had a trading volume of 9,828,420 shares, compared to its average volume of 12,861,882. Bristol Myers Squibb Company has a 1 year low of $39.50 and a 1 year high of $63.33. The firm has a market capitalization of $95.79 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 1.39 and a beta of 0.36. The stock has a fifty day simple moving average of $47.69 and a two-hundred day simple moving average of $53.50. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 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 analysts' expectations of $10.77 billion. During the same period in the prior year, the business posted ($4.40) earnings per share. The business's revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities research analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is presently 92.88%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Jefferies Financial Group dropped their price target on 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. Cantor Fitzgerald reissued a "neutral" rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Finally, UBS Group lowered their price objective on 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. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $58.00.

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.