Piscataqua Savings Bank Cuts Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Piscataqua Savings Bank lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMYGet Rating) by 18.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,248 shares of the biopharmaceutical company’s stock after selling 1,370 shares during the quarter. Piscataqua Savings Bank’s holdings in Bristol-Myers Squibb were worth $481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of BMY. Mizuho Securities Co. Ltd. increased its holdings in Bristol-Myers Squibb by 239.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 339 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 239 shares during the last quarter. Spectrum Management Group LLC increased its holdings in Bristol-Myers Squibb by 113.1% in the first quarter. Spectrum Management Group LLC now owns 341 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 181 shares during the last quarter. Nauset Wealth Management. LLC purchased a new position in Bristol-Myers Squibb in the first quarter valued at $27,000. Conrad Siegel Investment Advisors Inc. acquired a new position in Bristol-Myers Squibb in the first quarter valued at $28,000. Finally, Evolution Advisers Inc. acquired a new position in Bristol-Myers Squibb in the first quarter valued at $29,000. Hedge funds and other institutional investors own 76.54% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $71.52 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.14. The company has a market cap of $152.71 billion, a P/E ratio of 23.76, a PEG ratio of 1.52 and a beta of 0.43. Bristol-Myers Squibb has a 52 week low of $53.22 and a 52 week high of $80.59. The company has a 50-day moving average price of $72.50 and a 200 day moving average price of $74.05.

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

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be issued a $0.54 dividend. The ex-dividend date is Thursday, October 6th. This represents a $2.16 dividend on an annualized basis and a yield of 3.02%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 71.76%.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Ann Powell sold 25,000 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $70.75, for a total value of $1,768,750.00. Following the completion of the transaction, the executive vice president now directly owns 50,476 shares of the company’s stock, valued at $3,571,177. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Giovanni Caforio sold 50,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 501,104 shares of the company’s stock, valued at approximately $35,999,311.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ann Powell sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was 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 $3,571,177. The disclosure for this sale can be found here. Over the last three months, insiders sold 208,951 shares of company stock valued at $14,911,456. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on BMY shares. BMO Capital Markets upped their price objective on shares of Bristol-Myers Squibb from $92.00 to $94.00 and gave the company an “outperform” rating in a research note on Monday, September 12th. Berenberg Bank downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and decreased their price objective for the company from $82.00 to $76.00 in a research note on Wednesday, September 14th. JPMorgan Chase & Co. upped their price objective on shares of Bristol-Myers Squibb from $80.00 to $85.00 in a research note on Thursday, July 28th. Bank of America upped their price objective on shares of Bristol-Myers Squibb from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, June 6th. Finally, Atlantic Securities increased their target price on shares of Bristol-Myers Squibb from $83.00 to $87.00 and gave the stock an “overweight” rating in a research note on Monday, September 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $76.36.

About Bristol-Myers Squibb

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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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