Mutual of America Capital Management LLC Decreases Position in Bristol-Myers Squibb (NYSE:BMY)

Mutual of America Capital Management LLC lessened its holdings in Bristol-Myers Squibb (NYSE:BMYFree Report) by 3.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 307,298 shares of the biopharmaceutical company’s stock after selling 10,403 shares during the period. Mutual of America Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $17,836,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dakota Wealth Management purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth $332,000. Covestor Ltd lifted its position in shares of Bristol-Myers Squibb by 111.5% during the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 1,082 shares during the last quarter. NewEdge Advisors LLC lifted its position in Bristol-Myers Squibb by 53.2% in the first quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after acquiring an additional 57,444 shares during the last quarter. Ergoteles LLC purchased a new stake in Bristol-Myers Squibb in the first quarter valued at $1,997,000. Finally, Mackenzie Financial Corp increased its stake in Bristol-Myers Squibb by 25.1% in the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after purchasing an additional 68,018 shares during the period. Hedge funds and other institutional investors own 74.98% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE:BMY traded up $0.07 during trading hours on Thursday, hitting $48.71. 13,566,500 shares of the company traded hands, compared to its average volume of 16,316,492. Bristol-Myers Squibb has a twelve month low of $47.58 and a twelve month high of $73.84. The stock has a market capitalization of $99.11 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 1.42 and a beta of 0.38. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average of $50.54 and a 200 day moving average of $54.93.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last posted its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.33%. The business had revenue of $11.48 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, analysts forecast that Bristol-Myers Squibb will post 6.93 EPS for the current year.

Bristol-Myers Squibb declared that its board has authorized a stock repurchase plan on Thursday, December 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Friday, January 5th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.93%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.57. Bristol-Myers Squibb’s dividend payout ratio is currently 62.18%.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, CEO Christopher S. Boerner bought 2,000 shares of Bristol-Myers Squibb stock in a transaction dated Tuesday, December 5th. The shares were bought at an average price of $49.78 per share, with a total value of $99,560.00. Following the purchase, the chief executive officer now owns 82,672 shares of the company’s stock, valued at $4,115,412.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Bristol-Myers Squibb news, CEO Christopher S. Boerner acquired 2,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were bought at an average cost of $49.78 per share, for a total transaction of $99,560.00. Following the completion of the acquisition, the chief executive officer now directly owns 82,672 shares of the company’s stock, valued at $4,115,412.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Theodore R. Samuels II acquired 8,500 shares of the stock in a transaction dated Monday, November 20th. The stock was acquired at an average price of $49.81 per share, for a total transaction of $423,385.00. Following the completion of the acquisition, the director now directly owns 35,500 shares of the company’s stock, valued at $1,768,255. The disclosure for this purchase can be found here. Insiders have purchased a total of 13,571 shares of company stock valued at $672,994 in the last 90 days. 0.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on BMY. The Goldman Sachs Group lowered their target price on shares of Bristol-Myers Squibb from $81.00 to $69.00 and set a “buy” rating on the stock in a research report on Monday, October 30th. HSBC raised shares of Bristol-Myers Squibb from a “reduce” rating to a “hold” rating and reduced their price target for the company from $55.00 to $53.00 in a report on Friday, October 27th. William Blair downgraded shares of Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a research note on Friday, October 27th. BMO Capital Markets downgraded shares of Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating and set a $60.00 price objective on the stock. in a research note on Friday, October 27th. Finally, Daiwa Capital Markets downgraded shares of Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $68.00 to $54.00 in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $61.17.

Check Out Our Latest Analysis on Bristol-Myers Squibb

Bristol-Myers Squibb Company Profile

(Free Report)

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, 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; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.

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

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