Folger Nolan Fleming Douglas Capital Management Inc. Lowers Stake in Bristol-Myers Squibb (NYSE:BMY)

Folger Nolan Fleming Douglas Capital Management Inc. cut its position in shares of Bristol-Myers Squibb (NYSE:BMYGet Rating) by 5.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 14,273 shares of the biopharmaceutical company’s stock after selling 775 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $1,099,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sigma Investment Counselors Inc. boosted its position in shares of Bristol-Myers Squibb by 0.6% in the second quarter. Sigma Investment Counselors Inc. now owns 70,423 shares of the biopharmaceutical company’s stock worth $5,423,000 after acquiring an additional 411 shares during the last quarter. HB Wealth Management LLC boosted its position in shares of Bristol-Myers Squibb by 45.3% in the second 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 last quarter. Ritholtz Wealth Management boosted its position in shares of Bristol-Myers Squibb by 41.1% in the second 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 last quarter. Five Oceans Advisors boosted its position in shares of Bristol-Myers Squibb by 3.9% in the second 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 last quarter. Finally, Miracle Mile Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 47.2% in the second 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 last quarter. 76.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

BMY has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Bristol-Myers Squibb from $80.00 to $85.00 in a research report on Thursday, July 28th. BMO Capital Markets lifted their price target on shares of Bristol-Myers Squibb from $92.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, September 12th. Raymond James cut shares of Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a research report on Friday, June 3rd. They noted that the move was a valuation call. Berenberg Bank cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and reduced their price target for the company from $82.00 to $76.00 in a research report on Wednesday, September 14th. Finally, Bank of America lifted their price target on shares of Bristol-Myers Squibb from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, June 6th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.36.

Bristol-Myers Squibb Stock Down 1.4 %

Shares of NYSE:BMY traded down $1.00 during midday trading on Friday, reaching $70.29. The company had a trading volume of 357,556 shares, compared to its average volume of 10,752,010. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.44 and a quick ratio of 1.34. The stock’s fifty day moving average price is $72.13 and its 200-day moving average price is $74.01. The stock has a market capitalization of $150.09 billion, a P/E ratio of 23.68, a PEG ratio of 1.47 and a beta of 0.43. Bristol-Myers Squibb has a one year low of $53.22 and a one year high of $80.59.

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

Bristol-Myers Squibb Dividend Announcement

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

Bristol-Myers Squibb 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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