Ridgewood Investments LLC Lowers Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Ridgewood Investments LLC has reduced its holdings in Bristol Myers Squibb by 22.0%, selling 7,758 shares to own a total of 27,572 shares, which is valued at approximately $1.68 million.
• The company recently reported earnings per share (EPS) of $1.80 for the last quarter, which exceeded analysts' expectations of $1.50, but noted a 5.6% decline in revenue year-over-year.
• Bristol Myers Squibb declared a quarterly dividend of $0.62 per share, with a total annualized dividend amounting to $2.48, representing a yield of 5.12%.

Ridgewood Investments LLC trimmed its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 22.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,572 shares of the biopharmaceutical company's stock after selling 7,758 shares during the period. Bristol Myers Squibb accounts for 0.8% of Ridgewood Investments LLC's portfolio, making the stock its 25th largest holding. Ridgewood Investments LLC's holdings in Bristol Myers Squibb were worth $1,682,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its holdings in shares of Bristol Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after buying an additional 12,011,983 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake 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 valued at $705,309,000 after buying an additional 10,913,708 shares during the period. Wellington Management Group LLP lifted its stake in Bristol Myers Squibb by 3,880.0% in the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock worth $338,088,000 after acquiring an additional 5,827,317 shares during the period. Schroder Investment Management Group increased its position in Bristol Myers Squibb by 49.7% during the 4th quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company's stock valued at $639,837,000 after purchasing an additional 3,787,075 shares during the period. Finally, Northern Trust Corp raised its stake in Bristol Myers Squibb by 16.2% in the fourth quarter. Northern Trust Corp now owns 24,658,360 shares of the biopharmaceutical company's stock worth $1,394,677,000 after buying an additional 3,431,248 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BMY has been the subject of several analyst reports. Piper Sandler started 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 target for the company. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $58.53.

Bristol Myers Squibb Trading Down 1.4%

BMY traded down $0.66 during mid-day trading on Tuesday, hitting $46.85. 11,261,704 shares of the stock were exchanged, compared to its average volume of 11,210,511. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. The company has a market cap of $95.35 billion, a PE ratio of 17.55, a PEG ratio of 2.50 and a beta of 0.36. The firm's fifty day moving average is $47.67 and its two-hundred day moving average is $52.53. Bristol Myers Squibb Company has a 1-year low of $44.00 and a 1-year high of $63.33.

Bristol Myers Squibb Announces Dividend

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

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.