Truist Financial Corp Sells 730,782 Shares of Bristol-Myers Squibb (NYSE:BMY)

Truist Financial Corp lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 31.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,580,203 shares of the biopharmaceutical company’s stock after selling 730,782 shares during the period. Truist Financial Corp owned approximately 0.08% of Bristol-Myers Squibb worth $81,080,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMY. OFI Invest Asset Management acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth about $25,000. Milestone Investment Advisors LLC acquired a new stake in Bristol-Myers Squibb in the 3rd quarter valued at approximately $27,000. Blue Bell Private Wealth Management LLC grew its stake in Bristol-Myers Squibb by 61.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Legacy Financial Group LLC bought a new position in Bristol-Myers Squibb in the third quarter valued at approximately $39,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Bristol-Myers Squibb in the fourth quarter valued at approximately $40,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

NYSE BMY traded up $0.15 during midday trading on Friday, hitting $44.85. The company had a trading volume of 21,281,927 shares, compared to its average volume of 12,141,314. The company has a market capitalization of $90.90 billion, a PE ratio of -14.47, a P/E/G ratio of 16.25 and a beta of 0.39. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average price of $51.03 and a 200-day moving average price of $51.18. Bristol-Myers Squibb has a twelve month low of $44.34 and a twelve month high of $69.10.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. The firm had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 50.04% and a negative net margin of 13.50%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.05 EPS. As a group, analysts anticipate that Bristol-Myers Squibb will post 0.55 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.35%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Analyst Ratings Changes

BMY has been the subject of several research analyst reports. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Finally, StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb 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 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.