784,247 Bristol Myers Squibb Company $BMY Shares Sold by M&G PLC

M&G PLC lessened its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 14.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,507,982 shares of the biopharmaceutical company’s stock after selling 784,247 shares during the period. Bristol Myers Squibb accounts for 1.4% of M&G PLC’s holdings, making the stock its 15th biggest position. M&G PLC owned about 0.22% of Bristol Myers Squibb worth $279,495,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BMY. Primecap Management Co. CA acquired a new position in shares of Bristol Myers Squibb in the second quarter valued at $1,436,115,000. Legal & General Group Plc bought a new position in shares of Bristol Myers Squibb in the second quarter valued at about $980,862,000. BlackRock Inc. lifted its stake in shares of Bristol Myers Squibb by 5.1% during the 2nd quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock worth $10,393,783,000 after buying an additional 8,702,106 shares during the last quarter. State Street Corp lifted its stake in shares of Bristol Myers Squibb by 7.3% during the 2nd quarter. State Street Corp now owns 105,757,638 shares of the biopharmaceutical company’s stock worth $6,093,755,000 after buying an additional 7,192,724 shares during the last quarter. Finally, Caisse de depot et placement du Quebec acquired a new stake in shares of Bristol Myers Squibb during the 2nd quarter worth about $243,646,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BMY. Zacks Research lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 22nd. Roth Capital initiated coverage on shares of Bristol Myers Squibb in a research report on Wednesday, August 5th. They set a “buy” rating and a $75.00 price objective for the company. Argus upgraded Bristol Myers Squibb from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, August 5th. Bank of America reaffirmed a “buy” rating on shares of Bristol Myers Squibb in a research report on Friday, October 30th. Finally, The Goldman Sachs Group upgraded Bristol Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $65.46.

Bristol Myers Squibb Trading Up 0.0%

BMY stock opened at $62.16 on Tuesday. Bristol Myers Squibb Company has a 52 week low of $45.26 and a 52 week high of $68.64. The company has a market capitalization of $127.06 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.33 and a beta of 0.20. The company’s 50-day simple moving average is $62.25 and its 200 day simple moving average is $60.15. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.44 and a current ratio of 1.59.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. Bristol Myers Squibb had a net margin of 18.47% and a return on equity of 60.48%. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.72 billion. During the same quarter in the previous year, the firm posted $1.63 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.45 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Friday, October 2nd were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Friday, October 2nd. Bristol Myers Squibb’s payout ratio is 55.88%.

Insider Buying and Selling

In related news, Director Julia A. Haller sold 3,800 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $63.31, for a total transaction of $240,578.00. Following the sale, the director owned 30,279 shares of the company’s stock, valued at $1,916,963.49. This represents a 11.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Phil M. Holzer sold 500 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total value of $33,750.00. Following the transaction, the senior vice president owned 16,862 shares in the company, valued at approximately $1,138,185. This trade represents a 2.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.05% of the company’s stock.

Bristol Myers Squibb Profile

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops, manufactures and markets medicines. Its research and commercial activities focus on serious diseases, particularly cancer, blood disorders, immune-mediated conditions and cardiovascular disease.

The company’s medicines include Opdivo and Yervoy for cancer, Eliquis for preventing and treating blood clots, and Orencia for certain autoimmune conditions. Its portfolio also includes treatments for hematologic diseases and other serious illnesses.

Bristol Myers Squibb was formed in 1989 through the merger of Bristol-Myers, founded in 1887, and the E.