Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Transform Wealth LLC

Transform Wealth LLC reduced its position in shares of Bristol-Myers Squibb (NYSE:BMYGet Rating) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 131,447 shares of the biopharmaceutical company’s stock after selling 4,822 shares during the period. Bristol-Myers Squibb accounts for about 1.5% of Transform Wealth LLC’s investment portfolio, making the stock its 14th largest position. Transform Wealth LLC’s holdings in Bristol-Myers Squibb were worth $10,192,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. HB Wealth Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 45.3% during the 2nd quarter. HB Wealth Management LLC now owns 52,614 shares of the biopharmaceutical company’s stock worth $4,051,000 after acquiring an additional 16,395 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of Bristol-Myers Squibb by 41.1% during the 2nd quarter. Ritholtz Wealth Management now owns 32,317 shares of the biopharmaceutical company’s stock worth $2,488,000 after acquiring an additional 9,407 shares during the period. Five Oceans Advisors lifted its holdings in shares of Bristol-Myers Squibb by 3.9% during the 2nd quarter. Five Oceans Advisors now owns 4,621 shares of the biopharmaceutical company’s stock worth $356,000 after acquiring an additional 172 shares during the period. Miracle Mile Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 47.2% during the 2nd quarter. Miracle Mile Advisors LLC now owns 19,845 shares of the biopharmaceutical company’s stock worth $1,528,000 after acquiring an additional 6,359 shares during the period. Finally, Rosenberg Matthew Hamilton lifted its holdings in shares of Bristol-Myers Squibb by 8.9% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 2,773 shares of the biopharmaceutical company’s stock worth $213,000 after acquiring an additional 226 shares during the period. 76.54% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Down 1.3 %

Shares of BMY stock traded down $0.92 during mid-day trading on Friday, reaching $70.37. 313,668 shares of the company were exchanged, compared to its average volume of 10,752,010. Bristol-Myers Squibb has a fifty-two week low of $53.22 and a fifty-two week high of $80.59. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.34 and a current ratio of 1.44. The company has a market capitalization of $150.26 billion, a P/E ratio of 23.68, a P/E/G ratio of 1.47 and a beta of 0.43. The business’s 50 day simple moving average is $72.13 and its 200 day simple moving average is $74.01.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. Bristol-Myers Squibb had a net margin of 14.04% and a return on equity of 49.31%. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.50 billion. During the same quarter last year, the company earned $1.93 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Research analysts predict that Bristol-Myers Squibb will post 7.5 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Thursday, October 6th. Bristol-Myers Squibb’s dividend payout ratio is presently 71.76%.

Analysts Set New Price Targets

BMY has been the topic of several research reports. Raymond James lowered shares of Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a report on Friday, June 3rd. They noted that the move was a valuation call. Bank of America raised their price target on shares of Bristol-Myers Squibb from $78.00 to $80.00 and gave the company a “buy” rating in a report on Monday, June 6th. Atlantic Securities raised their price target on shares of Bristol-Myers Squibb from $83.00 to $87.00 and gave the company an “overweight” rating in a report on Monday, September 12th. Citigroup restated a “buy” rating and issued a $90.00 price target on shares of Bristol-Myers Squibb in a report on Friday, June 3rd. Finally, BMO Capital Markets raised their price target on shares of Bristol-Myers Squibb from $92.00 to $94.00 and gave the company an “outperform” rating in a report on Monday, September 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.36.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Ann Powell sold 25,000 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $70.75, for a total value of $1,768,750.00. Following the completion of the transaction, the executive vice president now owns 50,476 shares of the company’s stock, valued at $3,571,177. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Bristol-Myers Squibb news, EVP Ann Powell sold 25,000 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $70.75, for a total value of $1,768,750.00. Following the completion of the transaction, the executive vice president now owns 50,476 shares of the company’s stock, valued at $3,571,177. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Giovanni Caforio sold 50,000 shares of Bristol-Myers Squibb stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $71.84, for a total transaction of $3,592,000.00. Following the completion of the transaction, the chief executive officer now directly owns 501,104 shares of the company’s stock, valued at approximately $35,999,311.36. The disclosure for this sale can be found here. Insiders sold a total of 233,951 shares of company stock valued at $16,654,206 over the last 90 days. 0.09% of the stock is owned by company insiders.

Bristol-Myers Squibb Company Profile

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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