Steel Grove Capital Advisors LLC Reduces Stock Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Steel Grove Capital Advisors LLC lessened its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 5.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 34,190 shares of the biopharmaceutical company’s stock after selling 2,120 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Bristol Myers Squibb were worth $2,085,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BMY. Wealthspire Advisors LLC raised its stake in Bristol Myers Squibb by 0.6% during the 4th quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock worth $1,622,000 after acquiring an additional 170 shares in the last quarter. Bedel Financial Consulting Inc. grew its holdings in shares of Bristol Myers Squibb by 3.2% during the fourth quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock worth $340,000 after purchasing an additional 175 shares during the last quarter. King Wealth Management Group increased its position in shares of Bristol Myers Squibb by 2.6% during the fourth quarter. King Wealth Management Group now owns 7,294 shares of the biopharmaceutical company’s stock worth $413,000 after purchasing an additional 182 shares in the last quarter. Thoroughbred Financial Services LLC lifted its holdings in shares of Bristol Myers Squibb by 1.1% in the 4th quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company’s stock valued at $1,004,000 after purchasing an additional 190 shares during the last quarter. Finally, Marcum Wealth LLC boosted its position in shares of Bristol Myers Squibb by 1.0% in the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company’s stock valued at $1,177,000 after purchasing an additional 193 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Down 0.9%

BMY opened at $46.82 on Thursday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. Bristol Myers Squibb Company has a 12 month low of $39.35 and a 12 month high of $63.33. The stock has a market capitalization of $95.29 billion, a P/E ratio of 17.54, a P/E/G ratio of 1.39 and a beta of 0.38. The business has a 50 day simple moving average of $48.35 and a 200-day simple moving average of $54.52.

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

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.30%. Bristol Myers Squibb’s payout ratio is currently 92.88%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Piper Sandler assumed coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price target on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 target price (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. William Blair reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Finally, Argus raised shares of Bristol Myers Squibb to a “hold” rating in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $58.00.

Insider Buying and Selling at Bristol Myers Squibb

In other news, EVP Samit Hirawat purchased 4,250 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president now directly owns 83,513 shares in the company, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

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.