Brown Advisory Securities LLC Decreases Position in Bristol-Myers Squibb (NYSE:BMY)

Brown Advisory Securities LLC lessened its holdings in Bristol-Myers Squibb (NYSE:BMYGet Rating) by 19.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,583 shares of the biopharmaceutical company’s stock after selling 1,113 shares during the quarter. Brown Advisory Securities LLC’s holdings in Bristol-Myers Squibb were worth $337,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in BMY. Norges Bank purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at about $1,413,962,000. California Public Employees Retirement System increased its position in shares of Bristol-Myers Squibb by 59.0% in the first 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 period. Primecap Management Co. CA increased its position in shares of Bristol-Myers Squibb by 16.9% in the fourth 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 period. Pzena Investment Management LLC increased its position in shares of Bristol-Myers Squibb by 213.7% in the first quarter. Pzena Investment Management LLC now owns 3,625,787 shares of the biopharmaceutical company’s stock valued at $264,791,000 after acquiring an additional 2,470,079 shares during the period. Finally, Deutsche Bank AG increased its position in shares of 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 period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Insider Buying and Selling

In related news, CEO Giovanni Caforio sold 30,000 shares of the company’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $74.04, for a total transaction of $2,221,200.00. Following the completion of the transaction, the chief executive officer now owns 551,104 shares in the company, valued at $40,803,740.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Bristol-Myers Squibb news, EVP Sandra Leung sold 65,000 shares of the stock in a transaction on Monday, June 6th. The shares were sold at an average price of $74.89, for a total transaction of $4,867,850.00. Following the completion of the transaction, the executive vice president now owns 308,627 shares in the company, valued at $23,113,076.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Giovanni Caforio sold 30,000 shares of the stock in a transaction on Monday, June 13th. The shares were sold at an average price of $74.04, for a total transaction of $2,221,200.00. Following the transaction, the chief executive officer now owns 551,104 shares of the company’s stock, valued at approximately $40,803,740.16. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Analysts Set New Price Targets

BMY has been the topic of a number of research reports. UBS Group lifted their target price on shares of Bristol-Myers Squibb to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Wells Fargo & Company lifted their target price on shares of Bristol-Myers Squibb from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 17th. Citigroup reaffirmed a “buy” rating and set a $90.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, June 3rd. Barclays lifted their target price on shares of Bristol-Myers Squibb from $66.00 to $68.00 in a research note on Monday, May 2nd. Finally, Atlantic Securities lifted their target price on shares of Bristol-Myers Squibb from $82.00 to $83.00 and gave the company an “overweight” rating in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.57.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $72.12 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.34 and a current ratio of 1.44. The firm’s 50 day moving average price is $75.00 and its 200-day moving average price is $72.79. Bristol-Myers Squibb has a 52-week low of $53.22 and a 52-week high of $80.59. The company has a market cap of $153.99 billion, a PE ratio of 23.96, a P/E/G ratio of 1.53 and a beta of 0.40.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last announced its earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.50 billion. Bristol-Myers Squibb had a net margin of 14.04% and a return on equity of 49.31%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.93 earnings per share. On average, equities research analysts expect that Bristol-Myers Squibb will post 7.53 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 1st were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, June 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.00%. Bristol-Myers Squibb’s dividend payout ratio is 71.76%.

About Bristol-Myers Squibb

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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.

Further Reading

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

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