US Bancorp DE Sells 45,158 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• US Bancorp DE reduced its stake in Bristol Myers Squibb by 2.7%, selling 45,158 shares and holding approximately 1,647,926 shares worth around $100.5 million at the end of the last quarter.
• Recently, research analysts have issued mixed ratings on Bristol Myers Squibb, with one sell rating, thirteen hold ratings, and six buy ratings, maintaining an average price target of $57.33.
• Bristol Myers Squibb announced a quarterly dividend of $0.62 per share, translating to an annual yield of 5.6%, with a payout ratio of 100%.

US Bancorp DE reduced its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 2.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,647,926 shares of the biopharmaceutical company's stock after selling 45,158 shares during the quarter. US Bancorp DE owned approximately 0.08% of Bristol Myers Squibb worth $100,507,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in BMY. Brighton Jones LLC grew its holdings in shares of Bristol Myers Squibb by 33.4% during the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock worth $1,116,000 after buying an additional 4,935 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in shares of Bristol Myers Squibb during the fourth quarter worth about $13,094,000. Westpac Banking Corp grew its holdings in shares of Bristol Myers Squibb by 12.6% during the fourth quarter. Westpac Banking Corp now owns 43,173 shares of the biopharmaceutical company's stock worth $2,442,000 after buying an additional 4,840 shares in the last quarter. World Investment Advisors grew its holdings in shares of Bristol Myers Squibb by 26.3% during the fourth quarter. World Investment Advisors now owns 55,689 shares of the biopharmaceutical company's stock worth $3,150,000 after buying an additional 11,583 shares in the last quarter. Finally, Arete Wealth Advisors LLC grew its holdings in shares of Bristol Myers Squibb by 40.9% during the fourth quarter. Arete Wealth Advisors LLC now owns 7,746 shares of the biopharmaceutical company's stock worth $438,000 after buying an additional 2,247 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on BMY. Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Piper Sandler assumed coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective on the stock. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. UBS Group dropped 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 note on Friday, April 11th. 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. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Bristol Myers Squibb currently has a consensus rating of "Hold" and a consensus target price of $57.33.

Bristol Myers Squibb Price Performance

NYSE BMY traded up $1.16 on Monday, reaching $45.39. The company's stock had a trading volume of 14,656,292 shares, compared to its average volume of 13,625,376. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The stock has a market cap of $92.39 billion, a PE ratio of 18.30, a PEG ratio of 2.33 and a beta of 0.36. The firm's 50 day moving average is $47.51 and its two-hundred day moving average is $52.23.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the prior year, the company earned $2.07 EPS. Bristol Myers Squibb's revenue was up .6% on a year-over-year basis. As a group, sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.5%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's payout ratio is presently 100.00%.

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.