Csenge Advisory Group cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,121 shares of the biopharmaceutical company’s stock after selling 609 shares during the quarter. Csenge Advisory Group’s holdings in Bristol-Myers Squibb were worth $759,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Retirement Group LLC purchased a new stake in Bristol-Myers Squibb during the fourth quarter valued at about $27,000. Orion Capital Management LLC purchased a new stake in Bristol-Myers Squibb during the fourth quarter valued at about $28,000. Perennial Advisors LLC purchased a new stake in Bristol-Myers Squibb during the fourth quarter valued at about $29,000. Founders Capital Management purchased a new stake in Bristol-Myers Squibb during the fourth quarter valued at about $31,000. Finally, Brand Asset Management Group Inc. purchased a new stake in shares of Bristol-Myers Squibb in the first quarter worth about $31,000. 72.41% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE BMY opened at $63.48 on Tuesday. Bristol-Myers Squibb has a one year low of $54.07 and a one year high of $67.16. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.67 and a quick ratio of 1.58. The firm’s 50 day simple moving average is $63.60 and its two-hundred day simple moving average is $63.04. The stock has a market capitalization of $141.81 billion, a P/E ratio of -577.04, a PEG ratio of 1.00 and a beta of 0.67.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 3rd. Shareholders of record on Thursday, April 1st were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Wednesday, March 31st. Bristol-Myers Squibb’s payout ratio is currently 41.79%.
In other news, CEO Giovanni Caforio sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $62.20, for a total value of $1,555,000.00. Following the transaction, the chief executive officer now owns 528,980 shares in the company, valued at $32,902,556. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by company insiders.
A number of equities research analysts have recently issued reports on the stock. Truist raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Tuesday, April 13th. Truist Financial raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Tuesday, April 13th. Morgan Stanley downgraded shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $70.00 to $62.00 in a report on Friday. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Tuesday, April 6th. Finally, Truist Securities raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and increased their price target for the stock from $66.00 to $74.00 in a report on Monday, April 19th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Bristol-Myers Squibb currently has an average rating of “Buy” and a consensus target price of $73.81.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. The company offers products in hematology, oncology, cardiovascular, and immunology therapeutic classes. Its products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Opdivo for anti-cancer indications; Eliquis, an oral inhibitor indicated for the reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; and Orencia for adult patients with active RA and psoriatic arthritis, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.
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