Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Marcum Wealth LLC

Marcum Wealth LLC lessened its holdings in Bristol-Myers Squibb (NYSE:BMYGet Rating) by 3.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,737 shares of the biopharmaceutical company’s stock after selling 464 shares during the period. Marcum Wealth LLC’s holdings in Bristol-Myers Squibb were worth $904,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. State Street Corp increased its holdings in shares of Bristol-Myers Squibb by 2.2% in the 4th quarter. State Street Corp now owns 94,645,972 shares of the biopharmaceutical company’s stock valued at $5,901,176,000 after acquiring an additional 2,020,678 shares during the last quarter. Capital International Investors purchased a new position in Bristol-Myers Squibb during the first quarter worth $1,672,455,000. Norges Bank acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $1,413,962,000. Primecap Management Co. CA boosted its holdings in shares of Bristol-Myers Squibb by 1.2% during the first quarter. Primecap Management Co. CA now owns 22,370,375 shares of the biopharmaceutical company’s stock worth $1,633,708,000 after purchasing an additional 255,920 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Bristol-Myers Squibb by 17.0% in the fourth quarter. Deutsche Bank AG now owns 15,372,985 shares of the biopharmaceutical company’s stock valued at $958,504,000 after acquiring an additional 2,232,347 shares during the last quarter. Institutional investors and hedge funds own 76.54% of the company’s stock.

Bristol-Myers Squibb Stock Up 3.4 %

NYSE:BMY traded up $2.38 during trading hours on Thursday, hitting $71.84. 415,771 shares of the stock traded hands, compared to its average volume of 10,466,302. The firm has a 50 day moving average price of $72.18 and a 200 day moving average price of $73.99. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 1.14. Bristol-Myers Squibb has a fifty-two week low of $53.22 and a fifty-two week high of $80.59. The firm has a market cap of $153.40 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 1.48 and a beta of 0.43.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last announced its earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.14. Bristol-Myers Squibb had a net margin of 14.04% and a return on equity of 49.31%. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.50 billion. During the same period in the previous year, the business earned $1.93 EPS. The company’s revenue was up 1.6% on a year-over-year basis. Equities research analysts anticipate that Bristol-Myers Squibb will post 7.5 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, October 6th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 71.76%.

Insider Transactions at Bristol-Myers Squibb

In related news, CEO Giovanni Caforio sold 50,000 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $71.84, for a total value of $3,592,000.00. Following the completion of the sale, the chief executive officer now directly owns 501,104 shares in the company, valued at $35,999,311.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Giovanni Caforio sold 50,000 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $71.84, for a total value of $3,592,000.00. Following the completion of the sale, the chief executive officer now directly owns 501,104 shares in the company, valued at $35,999,311.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David V. Elkins sold 133,951 shares of the company’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $71.30, for a total transaction of $9,550,706.30. Following the sale, the chief financial officer now owns 100,460 shares of the company’s stock, valued at $7,162,798. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 208,951 shares of company stock valued at $14,911,456. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on BMY shares. Berenberg Bank cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $82.00 to $76.00 in a research note on Wednesday, September 14th. Raymond James lowered Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a report on Friday, June 3rd. They noted that the move was a valuation call. Atlantic Securities upped their target price on Bristol-Myers Squibb from $83.00 to $87.00 and gave the company an “overweight” rating in a report on Monday, September 12th. BMO Capital Markets upped their target price on Bristol-Myers Squibb from $92.00 to $94.00 and gave the company an “outperform” rating in a report on Monday, September 12th. Finally, JPMorgan Chase & Co. boosted their price objective on Bristol-Myers Squibb from $80.00 to $85.00 in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.36.

Bristol-Myers Squibb Company Profile

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

See Also

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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