State of Alaska Department of Revenue Has $20.69 Million Stake in Bristol Myers Squibb Company (NYSE:BMY)

State of Alaska Department of Revenue cut its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 6.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 339,227 shares of the biopharmaceutical company's stock after selling 23,405 shares during the period. State of Alaska Department of Revenue's holdings in Bristol Myers Squibb were worth $20,688,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in BMY. Pinney & Scofield Inc. acquired a new position in Bristol Myers Squibb during the 4th quarter valued at $25,000. Park Square Financial Group LLC bought a new position in shares of Bristol Myers Squibb during the 4th quarter worth about $26,000. Fairway Wealth LLC bought a new stake in shares of Bristol Myers Squibb in the fourth quarter valued at about $28,000. Transce3nd LLC bought a new position in Bristol Myers Squibb during the fourth quarter valued at about $28,000. Finally, Global Wealth Strategies & Associates raised its holdings in 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 acquiring an additional 275 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Trading Down 2.9%

Shares of BMY opened at $47.25 on Wednesday. The stock's fifty day simple moving average is $48.49 and its 200-day simple moving average is $54.58. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65. The firm has a market capitalization of $96.15 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 1.42 and a beta of 0.38. Bristol Myers Squibb Company has a 12-month low of $39.35 and a 12-month high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share 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 business had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. During the same period in the previous year, the firm posted ($4.40) earnings per share. Bristol Myers Squibb's revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.25%. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 92.88%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BMY shares. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Piper Sandler initiated 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 on the stock. Jefferies Financial Group decreased their price objective on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Argus raised Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bristol Myers Squibb has an average rating of "Hold" and a consensus price target of $58.00.

Insider Activity

In other Bristol Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the stock in a transaction on Friday, April 25th. The stock was bought at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the acquisition, the executive vice president now directly owns 83,513 shares of the company's stock, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by company insiders.

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.

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