Bristol-Myers Squibb (NYSE:BMY) Shares Sold by SouthState Corp

SouthState Corp trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 30,699 shares of the biopharmaceutical company’s stock after selling 439 shares during the period. SouthState Corp’s holdings in Bristol-Myers Squibb were worth $1,575,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BMY. Van ECK Associates Corp grew its position in shares of Bristol-Myers Squibb by 792.6% in the fourth quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock valued at $206,828,000 after purchasing an additional 3,579,324 shares during the period. Pacer Advisors Inc. increased its stake in Bristol-Myers Squibb by 48.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after buying an additional 2,540,360 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $86,965,000. Mizuho Markets Americas LLC purchased a new position in shares of Bristol-Myers Squibb in the third quarter valued at approximately $82,405,000. Finally, Northern Trust Corp boosted its stake in shares of Bristol-Myers Squibb by 5.8% in the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after acquiring an additional 1,394,158 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 0.7 %

Shares of NYSE:BMY traded up $0.29 during midday trading on Friday, reaching $43.99. 11,979,505 shares of the company’s stock were exchanged, compared to its average volume of 15,917,313. The stock has a market cap of $89.17 billion, a price-to-earnings ratio of -14.19, a P/E/G ratio of 14.90 and a beta of 0.45. Bristol-Myers Squibb has a fifty-two week low of $43.33 and a fifty-two week high of $69.10. The firm’s 50 day simple moving average is $50.52 and its two-hundred day simple moving average is $50.84. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same period last year, the business earned $2.05 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 0.59 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Wall Street Analyst Weigh In

BMY has been the subject of several recent research reports. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. BMO Capital Markets lowered their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Barclays decreased their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Finally, Wells Fargo & Company boosted their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $60.00.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.