Corrado Advisors LLC Trims Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Corrado Advisors LLC trimmed its stake in Bristol-Myers Squibb (NYSE:BMY) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,725 shares of the biopharmaceutical company’s stock after selling 411 shares during the period. Corrado Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,693,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Capital International Investors lifted its holdings in Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after buying an additional 8,675,322 shares during the period. M&G Plc bought a new position in shares of Bristol-Myers Squibb in the 1st quarter worth approximately $392,608,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Bristol-Myers Squibb by 77.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after purchasing an additional 5,461,767 shares during the period. Federated Hermes Inc. lifted its stake in shares of Bristol-Myers Squibb by 86.3% in the 2nd quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock valued at $313,398,000 after purchasing an additional 3,495,704 shares during the period. Finally, Swedbank AB bought a new stake in shares of Bristol-Myers Squibb during the first quarter valued at approximately $158,223,000. Institutional investors own 76.41% of the company’s stock.

Insider Transactions at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. UBS Group raised their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Citigroup lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $75.00 to $55.00 in a research note on Friday, October 25th. Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective on the stock. Jefferies Financial Group raised their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, TD Cowen lifted their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $53.00.

Bristol-Myers Squibb Stock Down 1.0 %

BMY stock opened at $54.16 on Friday. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $56.80. The stock has a market capitalization of $109.85 billion, a P/E ratio of -15.09, a P/E/G ratio of 12.39 and a beta of 0.44. The business has a fifty day moving average price of $51.87 and a 200-day moving average price of $46.81.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.26 billion. During the same quarter in the prior year, the business earned $2.00 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts forecast that Bristol-Myers Squibb will post 0.9 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.43%. Bristol-Myers Squibb’s payout ratio is -66.85%.

Bristol-Myers Squibb Company Profile

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.