Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lowered its holdings in Bristol-Myers Squibb (NYSE:BMYGet Rating) by 11.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 547,588 shares of the biopharmaceutical company’s stock after selling 69,658 shares during the period. Gabelli Funds LLC’s holdings in Bristol-Myers Squibb were worth $34,142,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BMY. Wellington Management Group LLP lifted its stake in Bristol-Myers Squibb by 3.3% in the third quarter. Wellington Management Group LLP now owns 45,407,364 shares of the biopharmaceutical company’s stock worth $2,686,754,000 after acquiring an additional 1,444,304 shares during the last quarter. Geode Capital Management LLC lifted its stake in Bristol-Myers Squibb by 2.7% in the third quarter. Geode Capital Management LLC now owns 36,940,288 shares of the biopharmaceutical company’s stock worth $2,179,937,000 after acquiring an additional 982,470 shares during the last quarter. Nordea Investment Management AB lifted its stake in Bristol-Myers Squibb by 20.8% in the fourth quarter. Nordea Investment Management AB now owns 18,130,455 shares of the biopharmaceutical company’s stock worth $1,136,598,000 after acquiring an additional 3,124,811 shares during the last quarter. Invesco Ltd. lifted its stake in Bristol-Myers Squibb by 2.2% in the third quarter. Invesco Ltd. now owns 15,731,092 shares of the biopharmaceutical company’s stock worth $930,809,000 after acquiring an additional 331,205 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Bristol-Myers Squibb by 9.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,808,859 shares of the biopharmaceutical company’s stock worth $798,646,000 after acquiring an additional 1,130,892 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

In other news, EVP Christopher S. Boerner sold 29,532 shares of the company’s stock in a transaction on Monday, March 14th. The shares were sold at an average price of $69.20, for a total transaction of $2,043,614.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Giovanni Caforio sold 30,000 shares of the company’s stock in a transaction on Thursday, February 24th. The stock was sold at an average price of $67.00, for a total transaction of $2,010,000.00. The disclosure for this sale can be found here. Insiders sold a total of 165,668 shares of company stock worth $11,459,888 over the last three months. 0.09% of the stock is currently owned by corporate insiders.

BMY traded up $0.23 during trading on Friday, hitting $76.19. The stock had a trading volume of 17,329,678 shares, compared to its average volume of 16,031,030. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.23 and a current ratio of 1.32. The firm has a market capitalization of $162.21 billion, a P/E ratio of 27.02, a PEG ratio of 1.61 and a beta of 0.49. The company’s 50-day moving average price is $74.99 and its 200 day moving average price is $67.02. Bristol-Myers Squibb has a twelve month low of $53.22 and a twelve month high of $78.46.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last announced its quarterly earnings data on Friday, April 29th. The biopharmaceutical company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.04. The company had revenue of $11.65 billion for the quarter, compared to analysts’ expectations of $11.34 billion. Bristol-Myers Squibb had a net margin of 13.31% and a return on equity of 48.37%. Bristol-Myers Squibb’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.74 EPS. As a group, equities analysts expect that Bristol-Myers Squibb will post 7.57 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 2nd. Shareholders of record on Friday, April 1st were paid a $0.54 dividend. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $2.16 annualized dividend and a yield of 2.84%. Bristol-Myers Squibb’s dividend payout ratio is currently 76.60%.

Several analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Bristol-Myers Squibb from $66.00 to $68.00 in a research report on Monday, May 2nd. Guggenheim boosted their price objective on shares of Bristol-Myers Squibb from $72.00 to $80.00 in a research report on Monday, May 2nd. Truist Financial boosted their price objective on shares of Bristol-Myers Squibb from $76.00 to $81.00 in a research report on Monday, May 2nd. StockNews.com assumed coverage on shares of Bristol-Myers Squibb in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. Finally, BMO Capital Markets boosted their price objective on shares of Bristol-Myers Squibb from $87.00 to $92.00 in a research report on Monday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $71.89.

About Bristol-Myers Squibb (Get Rating)

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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