HCR Wealth Advisors Sells 275 Shares of Bristol Myers Squibb Company (NYSE:BMY)

HCR Wealth Advisors trimmed its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,213 shares of the biopharmaceutical company’s stock after selling 275 shares during the quarter. HCR Wealth Advisors’ holdings in Bristol Myers Squibb were worth $623,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pinney & Scofield Inc. acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at $25,000. Park Square Financial Group LLC acquired a new stake in shares of Bristol Myers Squibb in the fourth quarter valued at about $26,000. Global Wealth Strategies & Associates raised its position in shares of Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 275 shares during the last quarter. Transce3nd LLC acquired a new position in shares of Bristol Myers Squibb in the fourth quarter worth approximately $28,000. Finally, Fairway Wealth LLC bought a new stake in Bristol Myers Squibb in the fourth quarter valued at approximately $28,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP Samit Hirawat bought 4,250 shares of Bristol Myers Squibb stock in a transaction dated Friday, April 25th. The stock was purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the purchase, the executive vice president now directly owns 83,513 shares in the company, valued at $3,973,548.54. The trade was a 5.36% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

Bristol Myers Squibb Stock Performance

Shares of BMY stock opened at $46.82 on Thursday. Bristol Myers Squibb Company has a 12 month low of $39.35 and a 12 month high of $63.33. The firm has a market capitalization of $95.29 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 1.39 and a beta of 0.38. The firm has a fifty day simple moving average of $48.35 and a two-hundred day simple moving average of $54.52. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65.

Bristol Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The company had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. During the same period in the previous year, the firm posted ($4.40) earnings per share. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. Analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb’s payout ratio is currently 92.88%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BMY. Cantor Fitzgerald restated a “neutral” rating and set a $55.00 price target on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Piper Sandler began coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 target price for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. William Blair reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Finally, Argus upgraded Bristol Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $58.00.

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.