Hedges Asset Management LLC Has $2.18 Million Stock Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Hedges Asset Management LLC lowered its stake in Bristol Myers Squibb Company (NYSE:BMY) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,800 shares of the biopharmaceutical company’s stock after selling 800 shares during the quarter. Bristol Myers Squibb makes up approximately 1.4% of Hedges Asset Management LLC’s investment portfolio, making the stock its 18th largest position. Hedges Asset Management LLC’s holdings in Bristol Myers Squibb were worth $2,183,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BMY. Norges Bank acquired a new position in shares of Bristol Myers Squibb during the 4th quarter worth approximately $1,989,525,000. Ameriprise Financial Inc. grew its stake in shares of Bristol Myers Squibb by 59.9% in the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock valued at $1,814,341,000 after buying an additional 12,011,983 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Bristol Myers Squibb by 701.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company’s stock worth $705,309,000 after buying an additional 10,913,708 shares during the last quarter. Wellington Management Group LLP raised its position in Bristol Myers Squibb by 3,880.0% during the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock worth $338,088,000 after acquiring an additional 5,827,317 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at $257,618,000. Institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. UBS Group lowered their price target on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Piper Sandler started coverage on Bristol Myers Squibb in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $55.00 target price on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $55.00 price target (down previously from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol Myers Squibb has an average rating of “Hold” and an average price target of $58.00.

Bristol Myers Squibb Stock Up 0.0%

BMY stock opened at $46.68 on Friday. Bristol Myers Squibb Company has a fifty-two week low of $39.35 and a fifty-two week high of $63.33. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. The stock has a market capitalization of $95.01 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.38 and a beta of 0.38. The business’s fifty day moving average price is $47.96 and its two-hundred day moving average price is $54.02.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. The business had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. Bristol Myers Squibb’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the firm earned ($4.40) earnings per share. On average, equities analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a $0.62 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.31%. Bristol Myers Squibb’s payout ratio is 92.88%.

Insider Activity at Bristol Myers Squibb

In related news, EVP Samit Hirawat purchased 4,250 shares of the company’s stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the purchase, the executive vice president now directly owns 83,513 shares in the company, valued at $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

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.