Chevy Chase Trust Holdings LLC Trims Stake in Bristol Myers Squibb Company (NYSE:BMY)

Chevy Chase Trust Holdings LLC decreased its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 0.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,081,677 shares of the biopharmaceutical company’s stock after selling 472 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Bristol Myers Squibb worth $65,971,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Polar Asset Management Partners Inc. purchased a new stake in shares of Bristol Myers Squibb in the 4th quarter worth approximately $16,651,000. Avaii Wealth Management LLC grew its stake in shares of Bristol Myers Squibb by 590.9% in the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company’s stock worth $4,794,000 after buying an additional 67,221 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Bristol Myers Squibb by 1.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company’s stock worth $3,967,000 after buying an additional 869 shares during the last quarter. Shorepoint Capital Partners LLC grew its stake in shares of Bristol Myers Squibb by 2.2% in the 4th quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company’s stock worth $3,305,000 after buying an additional 1,248 shares during the last quarter. Finally, Todd Asset Management LLC purchased a new stake in shares of Bristol Myers Squibb in the 4th quarter worth approximately $326,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Price Performance

NYSE BMY opened at $46.97 on Tuesday. The business’s fifty day moving average price is $48.12 and its 200-day moving average price is $54.21. The stock has a market capitalization of $95.59 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.39 and a beta of 0.38. 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 1-year low of $39.35 and a 1-year high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last announced its 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. 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 for the quarter, compared to analysts’ expectations of $10.77 billion. During the same period last year, the firm earned ($4.40) EPS. Bristol Myers Squibb’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a $0.62 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.28%. Bristol Myers Squibb’s dividend payout ratio is currently 92.88%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BMY shares. Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. UBS Group cut their target price on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Piper Sandler assumed coverage on Bristol Myers Squibb in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 target price on the stock. William Blair reiterated a “market perform” rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Finally, Argus upgraded Bristol Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Two 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $58.00.

Insider Buying and Selling

In other Bristol Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the firm’s stock in a transaction on Friday, April 25th. The shares were acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the acquisition, the executive vice president now directly owns 83,513 shares in the company, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.07% of the stock is owned by 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.