Truist Financial Corp Sells 18,827 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Truist Financial Corp lessened its position in Bristol Myers Squibb Company (NYSE:BMY) by 1.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,578,323 shares of the biopharmaceutical company’s stock after selling 18,827 shares during the period. Truist Financial Corp owned 0.08% of Bristol Myers Squibb worth $96,262,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Capital Investment Advisory Services LLC boosted its stake in shares of Bristol Myers Squibb by 10.4% during the 1st quarter. Capital Investment Advisory Services LLC now owns 14,914 shares of the biopharmaceutical company’s stock valued at $910,000 after purchasing an additional 1,410 shares in the last quarter. Argyle Capital Management LLC boosted its stake in shares of Bristol Myers Squibb by 2.0% during the 1st quarter. Argyle Capital Management LLC now owns 68,747 shares of the biopharmaceutical company’s stock valued at $4,193,000 after purchasing an additional 1,380 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Bristol Myers Squibb during the 1st quarter valued at about $31,000. IFM Investors Pty Ltd boosted its stake in shares of Bristol Myers Squibb by 9.4% during the 1st quarter. IFM Investors Pty Ltd now owns 435,849 shares of the biopharmaceutical company’s stock valued at $26,582,000 after purchasing an additional 37,363 shares in the last quarter. Finally, Aviance Capital Partners LLC boosted its stake in shares of Bristol Myers Squibb by 1.9% during the 1st quarter. Aviance Capital Partners LLC now owns 36,704 shares of the biopharmaceutical company’s stock valued at $2,239,000 after purchasing an additional 686 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Down 1.3%

Shares of Bristol Myers Squibb stock opened at $47.02 on Friday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. The stock has a market capitalization of $95.68 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 1.39 and a beta of 0.36. Bristol Myers Squibb Company has a 52-week low of $39.50 and a 52-week high of $63.33. The company has a 50-day simple moving average of $47.73 and a two-hundred day simple moving average of $53.60.

Bristol Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.30. The business had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($4.40) earnings per share. On average, analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.27%. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

Insider Transactions at Bristol Myers Squibb

In related news, EVP Samit Hirawat acquired 4,250 shares of the firm’s stock in a transaction dated Friday, April 25th. The stock was purchased 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 directly owned 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BMY shares. Wall Street Zen lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Argus raised shares of Bristol Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Jefferies Financial Group lowered their price target on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Finally, William Blair reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of “Hold” and an average price target of $58.00.

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.