Patriot Financial Group Insurance Agency LLC Cuts Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)


Patriot Financial Group Insurance Agency LLC cut its stake in Bristol-Myers Squibb (NYSE:BMY – Get Rating ) by 24.3% in the first quarter, according to its most recent filing with the SEC. The company owns 5,366 shares of the biopharmaceutical company after selling 1,718 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Bristol-Myers Squibb were worth $392,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in BMY. Cahaba Wealth Management Inc. boosted its position in Bristol-Myers Squibb by 2.5% in the first quarter. Cahaba Wealth Management Inc. now owns 5,391 shares of the biopharmaceutical company’s stock valued at $405,000 after buying an additional 132 shares during the period. MV Capital Management Inc. boosted its stake in Bristol-Myers Squibb by 10.7% in the first quarter. MV Capital Management Inc. now owns 1,391 shares of the biopharmaceutical company’s stock valued at $102,000 after acquiring an additional 135 shares in the last quarter. Sanders Morris Harris LLC boosted its stake in shares of Bristol-Myers Squibb by 0.3% in the first quarter. Sanders Morris Harris LLC now owns 40,501 shares of the biopharmaceutical company’s stock valued at $2,958,000 after purchasing an additional 137 shares during the last quarter. Bernardo Wealth Planning LLC boosted its stake in shares of Bristol-Myers Squibb by 4.3% in the first quarter. Bernardo Wealth Planning LLC now owns 3,389 shares of the biopharmaceutical company’s stock valued at $247,000. Finally, Providence Wealth Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 0.5% in the first quarter. Providence Wealth Advisors LLC now owns 27,047 shares of the biopharmaceutical company’s stock valued at $1,997,000 after buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s shares.

Analyst rating changes

A number of analysts have recently commented on the company. Raymond James cut Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a research report on Friday, June 3rd. They noted that the move was a judgment call. BMO Capital Markets lifted their price objective on Bristol-Myers Squibb from $87.00 to $92.00 in a research report on Monday, May 2nd. Truist Financial lifted their price objective on Bristol-Myers Squibb from $76.00 to $81.00 in a research report on Monday, May 2nd. JPMorgan Chase & Co. Le lifted their price objective on Bristol-Myers Squibb from $80.00 to $85.00 in a research report on Thursday, July 28th. Finally, Bank of America boosted their target price on Bristol-Myers Squibb from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, June 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Moderate Buy” and an average price target of $75.57, according to data from MarketBeat.com.

Bristol-Myers Squibb stock up 1.6%

Shares of Bristol-Myers Squibb stock opened at $75.33 on Monday. The business has a 50 day simple moving average of $74.81 and its 200 day simple moving average is $73.66. Bristol-Myers Squibb has a 52 week low of $53.22 and a 52 week high of $80.59. The firm has a market cap of $160.85 billion, a PE ratio of 25.03, a P/E/G ratio of 1.60 and a beta of 0.40. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.34 and a current ratio of 1.44.

Bristol-Myers Squibb (NYSE:BMY – Get Rating ) last announced its earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.14. Bristol-Myers Squibb had a return on equity of 49.31% and a net margin of 14.04%. The business had revenue of $11.89 billion for the quarter, compared to analysts’ estimates of $11.50 billion. The firm earned $1.93 EPS during the same quarter last year. Bristol-Myers Squibb’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts predict that Bristol-Myers Squibb will post 7.51 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 1st were given a dividend of $0.54 per share. This represents a $2.16 annual dividend and a 2.87% dividend yield. The ex-dividend date was Thursday, June 30th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 71.76%.

Insiders place their bets

In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 30,000 shares of the business’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $74.04, for a total transaction of $2,221,200.00. Following the transaction, the chief executive officer now owns 551,104 shares of the company’s stock, valued at approximately $40,803,740.16. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed through the SEC website. In related news, CEO Giovanni Caforio sold 30,000 shares of the business’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $74.04, for a total transaction of $2,221,200.00. Following the transaction, the chief executive officer now directly owns 551,104 shares of the company’s stock, valued at approximately $40,803,740.16. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed via this hyperlink. Also, EVP Sandra Leung sold 65,000 shares of the business’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $74.89, for a total value of $4,867,850.00. Following the completion of the sale, the executive vice president now owns 308,627 shares of the company’s stock, valued at $23,113,076.03. Disclosures for this sale can be found here. 0.09% of company shares are owned by insiders.

About Bristol-Myers Squibb

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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 reducing the 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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