Gries Financial LLC Has $2.99 Million Stake in Bristol Myers Squibb Company (NYSE:BMY)

Gries Financial LLC cut its position in Bristol Myers Squibb Company (NYSE:BMY) by 4.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,980 shares of the biopharmaceutical company’s stock after selling 2,267 shares during the quarter. Gries Financial LLC’s holdings in Bristol Myers Squibb were worth $2,987,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in Bristol Myers Squibb in the 4th quarter worth approximately $1,989,525,000. Ameriprise Financial Inc. increased its stake in Bristol Myers Squibb by 59.9% during the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock valued at $1,814,341,000 after purchasing an additional 12,011,983 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Bristol Myers Squibb by 701.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company’s stock worth $705,309,000 after acquiring an additional 10,913,708 shares during the period. Wellington Management Group LLP lifted its holdings in Bristol Myers Squibb by 3,880.0% during the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock valued at $338,088,000 after purchasing an additional 5,827,317 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of Bristol Myers Squibb by 49.7% in the fourth quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock worth $639,837,000 after buying an additional 3,787,075 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bristol Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of the business’s stock in a transaction on Friday, April 25th. The stock was acquired at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the purchase, the executive vice president directly owned 83,513 shares in the company, valued at $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

Bristol Myers Squibb Stock Down 1.5%

Shares of NYSE BMY opened at $46.66 on Monday. Bristol Myers Squibb Company has a 52 week low of $41.90 and a 52 week high of $63.33. The firm has a 50-day moving average price of $47.47 and a 200 day moving average price of $52.89. The stock has a market capitalization of $94.96 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 2.48 and a beta of 0.36. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65.

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

Bristol Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 92.88%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Morgan Stanley reduced their price target on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an “underweight” rating for the company in a research report on Thursday, July 10th. Jefferies Financial Group reduced their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Wall Street Zen lowered Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 target price on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Finally, UBS Group lowered their price target on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.69.

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.