Atlantic Union Bankshares Corp Reduces Stock Position in Bristol-Myers Squibb Co (NYSE:BMY)

Atlantic Union Bankshares Corp lowered its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,263 shares of the biopharmaceutical company’s stock after selling 220 shares during the period. Atlantic Union Bankshares Corp’s holdings in Bristol-Myers Squibb were worth $3,005,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Lodestar Investment Counsel LLC IL lifted its position in shares of Bristol-Myers Squibb by 5.2% during the second quarter. Lodestar Investment Counsel LLC IL now owns 113,720 shares of the biopharmaceutical company’s stock worth $5,157,000 after acquiring an additional 5,579 shares in the last quarter. Cypress Capital Management LLC lifted its position in shares of Bristol-Myers Squibb by 21.2% during the second quarter. Cypress Capital Management LLC now owns 154,335 shares of the biopharmaceutical company’s stock worth $6,999,000 after acquiring an additional 26,990 shares in the last quarter. Nachman Norwood & Parrott Inc lifted its position in shares of Bristol-Myers Squibb by 3.5% during the second quarter. Nachman Norwood & Parrott Inc now owns 50,388 shares of the biopharmaceutical company’s stock worth $2,285,000 after acquiring an additional 1,687 shares in the last quarter. Edge Wealth Management LLC lifted its position in shares of Bristol-Myers Squibb by 217.7% during the second quarter. Edge Wealth Management LLC now owns 10,007 shares of the biopharmaceutical company’s stock worth $452,000 after acquiring an additional 6,857 shares in the last quarter. Finally, KG&L Capital Management LLC lifted its position in shares of Bristol-Myers Squibb by 38.6% during the second quarter. KG&L Capital Management LLC now owns 17,104 shares of the biopharmaceutical company’s stock worth $775,000 after acquiring an additional 4,761 shares in the last quarter. Hedge funds and other institutional investors own 80.25% of the company’s stock.

Several research firms have issued reports on BMY. ValuEngine upgraded Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Monday, October 7th. TheStreet upgraded Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research report on Wednesday, September 18th. Atlantic Securities upgraded Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price objective on the stock in a research report on Wednesday, August 14th. Bank of America assumed coverage on Bristol-Myers Squibb in a research report on Wednesday. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, JPMorgan Chase & Co. set a $62.00 price objective on Bristol-Myers Squibb and gave the stock a “buy” rating in a research report on Friday, September 13th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $56.53.

Shares of BMY stock opened at $52.46 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.75 and a current ratio of 3.88. Bristol-Myers Squibb Co has a 52-week low of $42.48 and a 52-week high of $57.53. The company has a market capitalization of $84.78 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 2.33 and a beta of 0.72. The business’s fifty day moving average is $49.86 and its 200 day moving average is $47.17.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter last year, the business posted $1.01 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts forecast that Bristol-Myers Squibb Co will post 4.29 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.13%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 41.21%.

In other Bristol-Myers Squibb news, Director Robert J. Bertolini acquired 11,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average price of $44.72 per share, for a total transaction of $491,920.00. Following the completion of the transaction, the director now owns 11,397 shares of the company’s stock, valued at approximately $509,673.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.13% of the company’s stock.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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

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