CNB Bank Cuts Stock Holdings in Bristol Myers Squibb Company (NYSE:BMY)

by · The Cerbat Gem

CNB Bank cut its position in shares of Bristol Myers Squibb Company (NYSE:BMY – Free Report) by 8.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,291 shares of the biopharmaceutical company’s stock after selling 548 shares during the period. CNB Bank’s holdings in Bristol Myers Squibb were worth $384,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bedel Financial Consulting Inc. lifted its stake in shares of Bristol Myers Squibb by 3.2% during the fourth quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock valued at $340,000 after buying an additional 175 shares during the period. King Wealth Management Group lifted its stake in shares of Bristol Myers Squibb by 2.6% during the 4th quarter. King Wealth Management Group now owns 7,294 shares of the biopharmaceutical company’s stock worth $413,000 after purchasing an additional 182 shares during the period. Thoroughbred Financial Services LLC boosted its holdings in shares of Bristol Myers Squibb by 1.1% during the fourth quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company’s stock worth $1,004,000 after purchasing an additional 190 shares during the last quarter. Marcum Wealth LLC grew its position in shares of Bristol Myers Squibb by 1.0% in the first quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company’s stock valued at $1,177,000 after purchasing an additional 193 shares during the period. Finally, Chatham Capital Group Inc. increased its stake in Bristol Myers Squibb by 0.9% in the fourth quarter. Chatham Capital Group Inc. now owns 21,795 shares of the biopharmaceutical company’s stock valued at $1,233,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Performance

Bristol Myers Squibb stock opened at $46.68 on Friday. The firm has a market capitalization of $95.01 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.38 and a beta of 0.38. The stock’s 50 day moving average price is $47.96 and its 200 day moving average price is $54.02. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. Bristol Myers Squibb Company has a one year low of $39.35 and a one year high of $63.33.

Bristol Myers Squibb (NYSE:BMY – Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.50 by $0.30. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The business had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. During the same quarter in the previous year, the firm posted ($4.40) earnings per share. The company’s revenue was down 5.6% compared to the same quarter last year. As a group, sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 92.88%.

Insider Transactions at Bristol Myers Squibb

In other news, EVP Samit Hirawat purchased 4,250 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the purchase, the executive vice president now owns 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. UBS Group decreased their price target on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. William Blair reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Argus upgraded shares of Bristol Myers Squibb to a “hold” rating in a report on Friday, April 25th. Piper Sandler started coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price target on the stock. Finally, Wall Street Zen cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Bristol Myers Squibb has an average rating of “Hold” and a consensus price target of $58.00.

Check Out Our Latest Research Report on Bristol Myers Squibb

About Bristol Myers Squibb

(Free Report)

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.

See Also

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