Kensington Investment Counsel LLC Has $1.16 Million Holdings in Bristol-Myers Squibb (NYSE:BMY)

Kensington Investment Counsel LLC cut its stake in Bristol-Myers Squibb (NYSE:BMYGet Rating) by 3.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,898 shares of the biopharmaceutical company’s stock after selling 631 shares during the period. Kensington Investment Counsel LLC’s holdings in Bristol-Myers Squibb were worth $1,161,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BMY. Norges Bank acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $1,413,962,000. California Public Employees Retirement System increased its holdings in Bristol-Myers Squibb by 59.0% during the 1st quarter. California Public Employees Retirement System now owns 11,771,544 shares of the biopharmaceutical company’s stock valued at $859,676,000 after purchasing an additional 4,367,193 shares in the last quarter. Primecap Management Co. CA increased its holdings in Bristol-Myers Squibb by 16.9% during the 4th quarter. Primecap Management Co. CA now owns 22,114,455 shares of the biopharmaceutical company’s stock valued at $1,378,836,000 after purchasing an additional 3,195,680 shares in the last quarter. Pzena Investment Management LLC increased its holdings in Bristol-Myers Squibb by 213.7% during the 1st quarter. Pzena Investment Management LLC now owns 3,625,787 shares of the biopharmaceutical company’s stock valued at $264,791,000 after purchasing an additional 2,470,079 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in Bristol-Myers Squibb by 17.0% during the 4th quarter. Deutsche Bank AG now owns 15,372,985 shares of the biopharmaceutical company’s stock valued at $958,504,000 after purchasing an additional 2,232,347 shares in the last quarter. 76.54% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $70.16 on Friday. The business’s 50 day moving average price is $72.95 and its two-hundred day moving average price is $73.87. The company has a market cap of $149.81 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 1.46 and a beta of 0.43. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.14. Bristol-Myers Squibb has a twelve month low of $53.22 and a twelve month high of $80.59.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. Bristol-Myers Squibb had a return on equity of 49.31% and a net margin of 14.04%. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.50 billion. During the same quarter in the previous year, the business earned $1.93 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. On average, analysts predict that Bristol-Myers Squibb will post 7.51 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 1st were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Thursday, June 30th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 71.76%.

Analysts Set New Price Targets

BMY has been the subject of several research reports. UBS Group lifted their target price on Bristol-Myers Squibb to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. JPMorgan Chase & Co. raised their price target on Bristol-Myers Squibb from $80.00 to $85.00 in a research report on Thursday, July 28th. Citigroup restated a “buy” rating and issued a $90.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, June 3rd. Raymond James lowered Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a report on Friday, June 3rd. They noted that the move was a valuation call. Finally, Atlantic Securities lifted their target price on Bristol-Myers Squibb from $82.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, July 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.57.

Insider Activity at Bristol-Myers Squibb

In related news, CEO Giovanni Caforio sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $74.04, for a total value of $2,221,200.00. Following the completion of the sale, the chief executive officer now directly owns 551,104 shares in the company, valued at $40,803,740.16. The sale was disclosed in a filing with the SEC, which is available at this link. 0.09% of the stock is currently owned by corporate insiders.

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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