SRS Capital Advisors Inc. Lowers Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

SRS Capital Advisors Inc. cut its stake in Bristol-Myers Squibb (NYSE:BMYGet Rating) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,740 shares of the biopharmaceutical company’s stock after selling 156 shares during the period. SRS Capital Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $296,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Bristol-Myers Squibb by 0.8% in the third quarter. BlackRock Inc. now owns 176,533,963 shares of the biopharmaceutical company’s stock valued at $10,445,516,000 after purchasing an additional 1,433,256 shares during the period. Wellington Management Group LLP boosted its holdings in Bristol-Myers Squibb by 3.3% in the third quarter. Wellington Management Group LLP now owns 45,407,364 shares of the biopharmaceutical company’s stock valued at $2,686,754,000 after purchasing an additional 1,444,304 shares during the period. Geode Capital Management LLC boosted its holdings in Bristol-Myers Squibb by 2.7% in the third quarter. Geode Capital Management LLC now owns 36,940,288 shares of the biopharmaceutical company’s stock valued at $2,179,937,000 after purchasing an additional 982,470 shares during the period. Nordea Investment Management AB boosted its holdings in Bristol-Myers Squibb by 20.8% in the fourth quarter. Nordea Investment Management AB now owns 18,130,455 shares of the biopharmaceutical company’s stock valued at $1,136,598,000 after purchasing an additional 3,124,811 shares during the period. Finally, Invesco Ltd. boosted its holdings in Bristol-Myers Squibb by 2.2% in the third quarter. Invesco Ltd. now owns 15,731,092 shares of the biopharmaceutical company’s stock valued at $930,809,000 after purchasing an additional 331,205 shares during the period. Hedge funds and other institutional investors own 72.00% of the company’s stock.

In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 25,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, March 21st. The stock was sold at an average price of $71.52, for a total value of $1,788,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Rupert Vessey sold 74,559 shares of Bristol-Myers Squibb stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $69.25, for a total value of $5,163,210.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,668 shares of company stock worth $11,459,888. Corporate insiders own 0.09% of the company’s stock.

A number of analysts have weighed in on BMY shares. BMO Capital Markets raised their price target on Bristol-Myers Squibb from $74.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, March 30th. StockNews.com started coverage on Bristol-Myers Squibb in a research note on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Morgan Stanley cut their price target on Bristol-Myers Squibb from $66.00 to $64.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 6th. Finally, Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $67.75.

Shares of BMY traded down $1.93 during midday trading on Friday, reaching $75.27. 26,446,511 shares of the stock were exchanged, compared to its average volume of 13,521,502. The business’s 50-day moving average price is $72.64 and its 200 day moving average price is $65.09. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.52 and a quick ratio of 1.43. Bristol-Myers Squibb has a twelve month low of $53.22 and a twelve month high of $78.17. The company has a market capitalization of $164.07 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 1.57 and a beta of 0.55.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last released its quarterly earnings results on Friday, April 29th. The biopharmaceutical company reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.03. Bristol-Myers Squibb had a return on equity of 45.60% and a net margin of 15.08%. The firm had revenue of $11.65 billion for the quarter, compared to analyst estimates of $11.34 billion. During the same quarter last year, the company posted $1.74 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts expect that Bristol-Myers Squibb will post 7.75 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 2nd. Investors of record on Friday, April 1st will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, March 31st. Bristol-Myers Squibb’s dividend payout ratio is currently 69.23%.

Bristol-Myers Squibb Company Profile (Get Rating)

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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