Bristol Myers Squibb Company (NYSE:BMY) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB reduced its stake in Bristol Myers Squibb by 3.3%, now holding approximately 1.31 million shares valued at $80.05 million.
• Multiple institutional investors, including Polar Asset Management and Wealth Enhancement Advisory Services, have adjusted their positions in Bristol Myers Squibb, with a reported 76.41% of the stock held by such investors.
• Bristol Myers Squibb recently announced a quarterly dividend of $0.62 per share, yielding about 5.06%, with an upcoming ex-dividend date set for July 3rd.

Skandinaviska Enskilda Banken AB publ cut its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 3.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,312,490 shares of the biopharmaceutical company's stock after selling 44,816 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.06% of Bristol Myers Squibb worth $80,049,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Thoroughbred Financial Services LLC lifted its holdings in Bristol Myers Squibb by 1.1% in the fourth quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company's stock valued at $1,004,000 after acquiring an additional 190 shares during the period. Marcum Wealth LLC raised its stake in shares of Bristol Myers Squibb by 1.0% during the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock worth $1,177,000 after buying an additional 193 shares during the period. Beacon Investment Advisory Services Inc. raised its stake in shares of Bristol Myers Squibb by 2.7% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock worth $492,000 after buying an additional 212 shares during the period. Providence Capital Advisors LLC raised its stake in shares of Bristol Myers Squibb by 0.4% during the 4th quarter. Providence Capital Advisors LLC now owns 52,480 shares of the biopharmaceutical company's stock worth $2,968,000 after buying an additional 221 shares during the period. Finally, Nemes Rush Group LLC raised its stake in shares of Bristol Myers Squibb by 0.8% during the 4th quarter. Nemes Rush Group LLC now owns 27,027 shares of the biopharmaceutical company's stock worth $1,529,000 after buying an additional 221 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BMY has been the subject of several recent research reports. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Jefferies Financial Group reduced their price objective on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Piper Sandler started coverage on Bristol Myers Squibb in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price for the company. Morgan Stanley dropped their target price on Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating for the company in a report on Thursday, July 10th. Finally, Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Bristol Myers Squibb has a consensus rating of "Hold" and an average price target of $58.53.

Bristol Myers Squibb Stock Down 1.4%

Shares of NYSE BMY traded down $0.66 during midday trading on Tuesday, hitting $46.86. 4,614,622 shares of the company's stock were exchanged, compared to its average volume of 13,247,509. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. Bristol Myers Squibb Company has a twelve month low of $44.00 and a twelve month high of $63.33. The company has a market cap of $95.35 billion, a PE ratio of 17.53, a P/E/G ratio of 2.53 and a beta of 0.36. The firm's fifty day simple moving average is $47.67 and its 200-day simple moving average is $52.53.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced 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. This represents a $2.48 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 92.88%.

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.