Truist Financial Corp Has $58.25 Million Stake in Bristol Myers Squibb Company $BMY

Truist Financial Corp reduced its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 2.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,291,462 shares of the biopharmaceutical company’s stock after selling 27,584 shares during the quarter. Truist Financial Corp’s holdings in Bristol Myers Squibb were worth $58,245,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank bought a new stake in Bristol Myers Squibb during the second quarter worth approximately $1,554,154,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Bristol Myers Squibb by 16.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock worth $3,277,456,000 after buying an additional 10,195,775 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Bristol Myers Squibb by 428.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 11,311,281 shares of the biopharmaceutical company’s stock worth $523,599,000 after buying an additional 9,171,098 shares during the period. Man Group plc grew its stake in Bristol Myers Squibb by 280.4% in the 2nd quarter. Man Group plc now owns 7,465,845 shares of the biopharmaceutical company’s stock valued at $345,594,000 after buying an additional 5,503,391 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Bristol Myers Squibb by 142.8% in the 2nd quarter. Franklin Resources Inc. now owns 8,436,811 shares of the biopharmaceutical company’s stock worth $390,541,000 after acquiring an additional 4,961,869 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $54.66 on Thursday. The firm has a market capitalization of $111.26 billion, a PE ratio of 18.46, a PEG ratio of 0.17 and a beta of 0.29. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 2.39. Bristol Myers Squibb Company has a 1-year low of $42.52 and a 1-year high of $63.33. The business’s 50 day moving average is $53.07 and its 200-day moving average is $48.55.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.52 by $0.11. The firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. Bristol Myers Squibb had a return on equity of 76.53% and a net margin of 12.57%.Bristol Myers Squibb’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business earned $1.80 earnings per share. Sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be given a dividend of $0.63 per share. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, January 2nd. This represents a $2.52 annualized dividend and a dividend yield of 4.6%. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 85.14%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BMY shares. Wells Fargo & Company raised their price target on Bristol Myers Squibb from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 10th. Truist Financial set a $65.00 target price on Bristol Myers Squibb in a report on Wednesday, December 3rd. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a report on Thursday, October 2nd. Guggenheim restated a “buy” rating on shares of Bristol Myers Squibb in a research note on Tuesday, December 23rd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $57.00 target price (up previously from $51.00) on shares of Bristol Myers Squibb in a research report on Tuesday, December 2nd. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $57.43.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.