Keybank National Association OH Lowers Stock Holdings in Bristol Myers Squibb Company $BMY

Keybank National Association OH cut its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 8.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 510,354 shares of the biopharmaceutical company’s stock after selling 47,218 shares during the period. Keybank National Association OH’s holdings in Bristol Myers Squibb were worth $23,017,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Howard Capital Management Inc. raised its stake in shares of Bristol Myers Squibb by 9.9% during the third quarter. Howard Capital Management Inc. now owns 25,514 shares of the biopharmaceutical company’s stock worth $1,151,000 after purchasing an additional 2,299 shares during the last quarter. National Pension Service increased its stake in Bristol Myers Squibb by 5.0% in the 3rd quarter. National Pension Service now owns 5,106,519 shares of the biopharmaceutical company’s stock valued at $230,304,000 after buying an additional 244,970 shares during the period. Bryn Mawr Trust Advisors LLC raised its position in Bristol Myers Squibb by 10.7% during the 3rd quarter. Bryn Mawr Trust Advisors LLC now owns 5,185 shares of the biopharmaceutical company’s stock worth $234,000 after buying an additional 500 shares during the last quarter. Cornerstone Wealth Management LLC lifted its stake in shares of Bristol Myers Squibb by 6.1% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 32,230 shares of the biopharmaceutical company’s stock worth $1,454,000 after acquiring an additional 1,852 shares during the period. Finally, Jim Saulnier & Associates LLC purchased a new stake in shares of Bristol Myers Squibb in the third quarter valued at about $274,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Truist Financial set a $65.00 price objective on shares of Bristol Myers Squibb in a research report on Wednesday, December 3rd. Leerink Partners increased their target price on Bristol Myers Squibb from $54.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 13th. HSBC restated a “hold” rating and issued a $53.00 price target on shares of Bristol Myers Squibb in a research note on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Finally, Wells Fargo & Company boosted their target price on shares of Bristol Myers Squibb from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 10th. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of “Hold” and an average price target of $57.43.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock opened at $55.03 on Friday. The firm has a market capitalization of $112.02 billion, a PE ratio of 18.59, a P/E/G ratio of 0.17 and a beta of 0.29. Bristol Myers Squibb Company has a 52 week low of $42.52 and a 52 week high of $63.33. The firm’s 50-day simple moving average is $53.41 and its 200 day simple moving average is $48.66. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 2.39.

Bristol Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11. Bristol Myers Squibb had a net margin of 12.57% and a return on equity of 76.53%. The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. During the same quarter in the previous year, the business posted $1.80 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be given a dividend of $0.63 per share. The ex-dividend date is Friday, January 2nd. This represents a $2.52 annualized dividend and a dividend yield of 4.6%. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. Bristol Myers Squibb’s payout ratio is presently 85.14%.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.