Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Trustco Bank Corp N Y

Trustco Bank Corp N Y lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,173 shares of the biopharmaceutical company’s stock after selling 900 shares during the quarter. Trustco Bank Corp N Y’s holdings in Bristol-Myers Squibb were worth $349,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BMY. Truist Financial Corp increased its position in Bristol-Myers Squibb by 3.9% during the 4th quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock worth $90,335,000 after purchasing an additional 60,365 shares in the last quarter. Corundum Group Inc. increased its position in Bristol-Myers Squibb by 67.8% during the 4th quarter. Corundum Group Inc. now owns 43,534 shares of the biopharmaceutical company’s stock worth $2,462,000 after purchasing an additional 17,596 shares in the last quarter. High Net Worth Advisory Group LLC increased its position in Bristol-Myers Squibb by 42.2% during the 4th quarter. High Net Worth Advisory Group LLC now owns 16,974 shares of the biopharmaceutical company’s stock worth $960,000 after purchasing an additional 5,040 shares in the last quarter. KBC Group NV increased its position in Bristol-Myers Squibb by 18.4% during the 4th quarter. KBC Group NV now owns 4,054,868 shares of the biopharmaceutical company’s stock worth $229,343,000 after purchasing an additional 628,908 shares in the last quarter. Finally, Quilter Plc increased its position in Bristol-Myers Squibb by 56.6% during the 4th quarter. Quilter Plc now owns 107,818 shares of the biopharmaceutical company’s stock worth $6,098,000 after purchasing an additional 38,977 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 4,250 shares of the company’s stock in a transaction dated Friday, April 25th. The shares were bought at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the transaction, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

BMY has been the subject of several recent research reports. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Friday, April 25th. Argus raised shares of Bristol-Myers Squibb to a “hold” rating in a research report on Friday, April 25th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 price objective (down previously from $67.00) on shares of Bristol-Myers Squibb in a research report on Tuesday, April 8th. Jefferies Financial Group lowered their price objective on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company increased their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $58.00.

Bristol-Myers Squibb Trading Up 2.1%

Shares of BMY opened at $46.77 on Monday. The business’s 50-day moving average price is $53.05 and its 200 day moving average price is $55.99. The stock has a market capitalization of $95.18 billion, a P/E ratio of -10.58, a P/E/G ratio of 2.07 and a beta of 0.39. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The company had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. During the same quarter in the previous year, the business posted ($4.40) EPS. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. Analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 4th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date of this dividend was Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

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.