First Western Trust Bank cut its stake in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 7.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,081 shares of the biopharmaceutical company’s stock after selling 2,848 shares during the quarter. First Western Trust Bank’s holdings in Bristol-Myers Squibb were worth $2,307,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Dakota Wealth Management bought a new position in shares of Bristol-Myers Squibb in the first quarter valued at approximately $332,000. Covestor Ltd grew its holdings in Bristol-Myers Squibb by 111.5% during the first quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 1,082 shares during the period. NewEdge Advisors LLC grew its holdings in Bristol-Myers Squibb by 53.2% during the first quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after purchasing an additional 57,444 shares during the period. Ergoteles LLC bought a new position in Bristol-Myers Squibb during the first quarter valued at $1,997,000. Finally, Mackenzie Financial Corp grew its holdings in Bristol-Myers Squibb by 25.1% during the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after purchasing an additional 68,018 shares during the period. 74.98% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Bristol-Myers Squibb
In related news, EVP Ann Powell sold 17,986 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the transaction, the executive vice president now owns 27,868 shares in the company, valued at approximately $1,706,915. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by company insiders.
Analyst Ratings Changes
Bristol-Myers Squibb Trading Down 3.6 %
Shares of NYSE BMY traded down $1.84 during midday trading on Monday, reaching $49.00. The company had a trading volume of 12,950,295 shares, compared to its average volume of 9,673,244. Bristol-Myers Squibb has a one year low of $48.78 and a one year high of $81.43. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 1.11. The firm’s fifty day moving average price is $55.60 and its 200-day moving average price is $60.85. The stock has a market cap of $99.70 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 1.62 and a beta of 0.38.
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.24. Bristol-Myers Squibb had a return on equity of 51.59% and a net margin of 18.44%. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the previous year, the company posted $1.99 EPS. Bristol-Myers Squibb’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 7.56 earnings per share for the current year.
Bristol-Myers Squibb Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, October 6th were issued a dividend of $0.57 per share. The ex-dividend date was Thursday, October 5th. This represents a $2.28 dividend on an annualized basis and a yield of 4.65%. Bristol-Myers Squibb’s dividend payout ratio is presently 57.87%.
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, 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; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
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