Ledyard National Bank Decreases Stake in Bristol Myers Squibb Company (NYSE:BMY)

Ledyard National Bank cut its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 2.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,052 shares of the biopharmaceutical company’s stock after selling 618 shares during the period. Ledyard National Bank’s holdings in Bristol Myers Squibb were worth $1,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pinney & Scofield Inc. purchased a new stake in Bristol Myers Squibb during the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC purchased a new stake in Bristol Myers Squibb during the fourth quarter valued at approximately $26,000. Fairway Wealth LLC purchased a new stake in Bristol Myers Squibb during the fourth quarter valued at approximately $28,000. Transce3nd LLC purchased a new stake in Bristol Myers Squibb during the fourth quarter valued at approximately $28,000. Finally, Global Wealth Strategies & Associates raised its position in Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 275 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bristol Myers Squibb

In other Bristol Myers Squibb 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 price of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president now owns 83,513 shares in the company, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.07% of the company’s stock.

Bristol Myers Squibb Stock Up 0.2%

Shares of NYSE:BMY opened at $46.97 on Tuesday. Bristol Myers Squibb Company has a 52-week low of $39.35 and a 52-week high of $63.33. The stock has a market cap of $95.59 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 1.39 and a beta of 0.38. The business’s 50 day moving average is $48.12 and its 200 day moving average is $54.21. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data 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 company had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. Bristol Myers Squibb’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($4.40) earnings per share. Sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.28%. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 92.88%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. UBS Group decreased their price objective on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $55.00 price target (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Piper Sandler initiated coverage on Bristol Myers Squibb in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price target on the stock. Wall Street Zen downgraded Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Friday, June 6th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. 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 company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $58.00.

Bristol Myers Squibb 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.