American Trust Makes New $368,000 Investment in Bristol-Myers Squibb (NYSE:BMY)

American Trust bought a new position in Bristol-Myers Squibb (NYSE:BMYGet Rating) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,029 shares of the biopharmaceutical company’s stock, valued at approximately $368,000.

Several other hedge funds also recently bought and sold shares of BMY. Capital International Investors acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at about $1,672,455,000. Norges Bank acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at about $1,413,962,000. California Public Employees Retirement System increased its holdings in shares of Bristol-Myers Squibb by 59.0% during the 1st quarter. California Public Employees Retirement System now owns 11,771,544 shares of the biopharmaceutical company’s stock valued at $859,676,000 after acquiring an additional 4,367,193 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of Bristol-Myers Squibb by 16.9% during the 4th quarter. Primecap Management Co. CA now owns 22,114,455 shares of the biopharmaceutical company’s stock valued at $1,378,836,000 after acquiring an additional 3,195,680 shares during the last quarter. Finally, Eaton Vance Management increased its holdings in shares of Bristol-Myers Squibb by 52.8% during the 1st quarter. Eaton Vance Management now owns 7,329,809 shares of the biopharmaceutical company’s stock valued at $535,296,000 after acquiring an additional 2,532,851 shares during the last quarter. 76.54% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $71.52 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.44 and a quick ratio of 1.34. The company has a market capitalization of $152.71 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 1.52 and a beta of 0.43. Bristol-Myers Squibb has a one year low of $53.22 and a one year high of $80.59. The business has a 50 day simple moving average of $72.50 and a 200 day simple moving average of $73.98.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. Bristol-Myers Squibb had a return on equity of 49.31% and a net margin of 14.04%. The firm had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.50 billion. During the same period last year, the firm posted $1.93 EPS. The business’s revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 7.5 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be issued a dividend of $0.54 per share. The ex-dividend date is Thursday, October 6th. This represents a $2.16 dividend on an annualized basis and a yield of 3.02%. Bristol-Myers Squibb’s dividend payout ratio is 71.76%.

Insider Activity at Bristol-Myers Squibb

In related news, CEO Giovanni Caforio sold 50,000 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $71.84, for a total transaction of $3,592,000.00. Following the completion of the sale, the chief executive officer now directly owns 501,104 shares of the company’s stock, valued at approximately $35,999,311.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Ann Powell sold 25,000 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $70.75, for a total value of $1,768,750.00. Following the completion of the sale, the executive vice president now directly owns 50,476 shares of the company’s stock, valued at approximately $3,571,177. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Giovanni Caforio sold 50,000 shares of Bristol-Myers Squibb 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 of the company’s stock, valued at $35,999,311.36. The disclosure for this sale can be found here. Insiders sold 208,951 shares of company stock valued at $14,911,456 in the last three months. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BMY. Berenberg Bank lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and lowered their price objective for the company from $82.00 to $76.00 in a report on Wednesday. JPMorgan Chase & Co. increased their target price on Bristol-Myers Squibb from $80.00 to $85.00 in a research note on Thursday, July 28th. Citigroup restated a “buy” rating and set a $90.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, June 3rd. UBS Group increased their target price on Bristol-Myers Squibb to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Finally, BMO Capital Markets increased their target price on Bristol-Myers Squibb from $92.00 to $94.00 and gave the company an “outperform” rating in a research note on Monday, September 12th. One research analyst has rated the stock with a sell rating, five have issued 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, Bristol-Myers Squibb has a consensus rating of “Moderate Buy” and an average price target of $76.36.

Bristol-Myers Squibb 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.

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

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