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

Truist Financial Corp trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,551,457 shares of the biopharmaceutical company’s stock after selling 105,706 shares during the period. Truist Financial Corp’s holdings in Bristol-Myers Squibb were worth $64,432,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BMY. The Manufacturers Life Insurance Company lifted its position in Bristol-Myers Squibb by 12.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,688,132 shares of the biopharmaceutical company’s stock valued at $86,618,000 after buying an additional 180,842 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter valued at approximately $216,000. Capital International Sarl lifted its position in Bristol-Myers Squibb by 6.5% during the fourth quarter. Capital International Sarl now owns 348,050 shares of the biopharmaceutical company’s stock valued at $17,858,000 after buying an additional 21,296 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Bristol-Myers Squibb by 319.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 278,314 shares of the biopharmaceutical company’s stock valued at $14,280,000 after buying an additional 211,949 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Bristol-Myers Squibb by 20.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 291,200 shares of the biopharmaceutical company’s stock worth $14,942,000 after purchasing an additional 50,406 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Up 2.3 %

BMY stock opened at $52.91 on Wednesday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $58.06. The firm has a fifty day moving average price of $48.91 and a two-hundred day moving average price of $46.28. The firm has a market cap of $107.25 billion, a price-to-earnings ratio of -17.07, a PEG ratio of 12.96 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same quarter in the previous year, the firm earned $1.75 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.54%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BMY. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. BMO Capital Markets reissued a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. Finally, Barclays boosted their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $55.00.

Bristol-Myers Squibb Profile

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.