Bristol Myers Squibb Company (NYSE:BMY) Shares Sold by Valmark Advisers Inc.

Valmark Advisers Inc. lessened its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 6.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,237 shares of the biopharmaceutical company’s stock after selling 298 shares during the quarter. Valmark Advisers Inc.’s holdings in Bristol Myers Squibb were worth $258,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Bristol Myers Squibb by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company’s stock valued at $10,743,262,000 after buying an additional 1,373,209 shares during the last quarter. Capital International Investors boosted its holdings in shares of Bristol Myers Squibb by 7.5% during the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company’s stock worth $2,593,940,000 after purchasing an additional 3,218,865 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Bristol Myers Squibb by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company’s stock worth $2,505,967,000 after purchasing an additional 1,187,231 shares during the last quarter. Norges Bank acquired a new stake in shares of Bristol Myers Squibb during the fourth quarter worth $1,989,525,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Bristol Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock worth $1,814,341,000 after purchasing an additional 12,011,983 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Trading Down 0.6%

NYSE:BMY opened at $46.73 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 $95.10 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.39 and a beta of 0.38. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. The business’s 50-day moving average is $48.01 and its two-hundred day moving average is $54.11.

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

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb’s payout ratio is 92.88%.

Analysts Set New Price Targets

BMY has been the topic of several analyst reports. Piper Sandler initiated coverage on Bristol Myers Squibb in a report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price objective on the stock. Argus raised Bristol Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Wall Street Zen lowered Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Finally, UBS Group cut their target price on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $58.00.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP Samit Hirawat bought 4,250 shares of the company’s stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the transaction, the executive vice president now owns 83,513 shares in the company, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.

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.