Matrix Asset Advisors Inc. NY lowered its position in shares of Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 6.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,685 shares of the biopharmaceutical company’s stock after selling 499 shares during the quarter. Matrix Asset Advisors Inc. NY’s holdings in Bristol-Myers Squibb were worth $515,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the company. Mizuho Securities Co. Ltd. raised its stake in shares of Bristol-Myers Squibb by 239.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 339 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 239 shares during the period. Spectrum Management Group LLC grew its holdings in Bristol-Myers Squibb by 113.1% during the 1st quarter. Spectrum Management Group LLC now owns 341 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 181 shares in the last quarter. Nauset Wealth Management. LLC acquired a new position in Bristol-Myers Squibb during the 1st quarter worth $27,000. Conrad Siegel Investment Advisors Inc. acquired a new position in Bristol-Myers Squibb during the 1st quarter worth $28,000. Finally, Evolution Advisers Inc. acquired a new position in Bristol-Myers Squibb during the 1st quarter worth $29,000. Institutional investors and hedge funds own 76.54% of the company’s stock.
Bristol-Myers Squibb Stock Performance
Bristol-Myers Squibb stock traded down $0.52 on Friday, hitting $70.77. The company’s stock had a trading volume of 181,225 shares, compared to its average volume of 10,752,010. The firm has a market cap of $151.11 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 1.47 and a beta of 0.43. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.14. The company has a fifty day moving average price of $72.13 and a 200-day moving average price of $74.01. Bristol-Myers Squibb has a one year low of $53.22 and a one year high of $80.59.
Bristol-Myers Squibb Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.05%. The ex-dividend date is Thursday, October 6th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 71.76%.
Insider Transactions at Bristol-Myers Squibb
In other news, CEO Giovanni Caforio sold 25,000 shares of the company’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $69.71, for a total value of $1,742,750.00. Following the sale, the chief executive officer now owns 476,104 shares of the company’s stock, valued at approximately $33,189,209.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 25,000 shares of the company’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $69.71, for a total transaction of $1,742,750.00. Following the transaction, the chief executive officer now directly owns 476,104 shares in the company, valued at approximately $33,189,209.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO David V. Elkins sold 133,951 shares of the company’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $71.30, for a total transaction of $9,550,706.30. Following the transaction, the chief financial officer now owns 100,460 shares in the company, valued at $7,162,798. The disclosure for this sale can be found here. In the last quarter, insiders have sold 233,951 shares of company stock valued at $16,654,206. 0.09% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on BMY. JPMorgan Chase & Co. raised their price objective on shares of Bristol-Myers Squibb from $80.00 to $85.00 in a report on Thursday, July 28th. Bank of America lifted their price target on shares of Bristol-Myers Squibb from $78.00 to $80.00 and gave the company a “buy” rating in a report on Monday, June 6th. Atlantic Securities lifted their price target on shares of Bristol-Myers Squibb from $83.00 to $87.00 and gave the company an “overweight” rating in a report on Monday, September 12th. Berenberg Bank lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and decreased their price target for the company from $82.00 to $76.00 in a report on Wednesday, September 14th. Finally, Citigroup reaffirmed a “buy” rating and issued a $90.00 price target on shares of Bristol-Myers Squibb in a report on Friday, June 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.36.
Bristol-Myers Squibb Profile
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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