Bristol Myers Squibb Company (NYSE:BMY) Shares Sold by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management reduced its stake in Bristol Myers Squibb by 7.9%, owning 213,110 shares valued at approximately $12.99 million after selling 18,309 shares in Q1.
• Recent investment activity shows a high level of institutional ownership, with 76.41% of the stock held by hedge funds and other institutional investors.
• Bristol Myers Squibb announced a $0.62 quarterly dividend to be paid on August 1st, representing an annual yield of 5.22% and a payout ratio of 92.88%.

Picton Mahoney Asset Management decreased its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 7.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 213,110 shares of the biopharmaceutical company's stock after selling 18,309 shares during the period. Picton Mahoney Asset Management's holdings in Bristol Myers Squibb were worth $12,997,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Thoroughbred Financial Services LLC boosted its position in shares of Bristol Myers Squibb by 1.1% during the 4th quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company's stock worth $1,004,000 after purchasing an additional 190 shares during the period. Marcum Wealth LLC boosted its position in Bristol Myers Squibb by 1.0% in the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock valued at $1,177,000 after buying an additional 193 shares during the period. Beacon Investment Advisory Services Inc. boosted its position in Bristol Myers Squibb by 2.7% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock valued at $492,000 after buying an additional 212 shares during the period. Nemes Rush Group LLC boosted its position in Bristol Myers Squibb by 0.8% in the 4th quarter. Nemes Rush Group LLC now owns 27,027 shares of the biopharmaceutical company's stock valued at $1,529,000 after buying an additional 221 shares during the period. Finally, 1858 Wealth Management LLC boosted its position 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 buying an additional 221 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

NYSE:BMY traded down $0.66 during mid-day trading on Tuesday, reaching $46.85. The stock had a trading volume of 11,261,704 shares, compared to its average volume of 11,210,511. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. The firm has a market capitalization of $95.35 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 2.50 and a beta of 0.36. Bristol Myers Squibb Company has a twelve month low of $44.00 and a twelve month high of $63.33. The business has a 50 day simple moving average of $47.65 and a 200 day simple moving average of $52.49.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be given a $0.62 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.29%. Bristol Myers Squibb's payout ratio is currently 92.88%.

Analyst Ratings Changes

Several equities analysts have commented on BMY shares. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price target (down previously from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. UBS Group decreased their price target on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. 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 price objective for the company. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $58.53.

About Bristol Myers Squibb

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.