Caisse DE Depot ET Placement DU Quebec Sells 992,983 Shares of Bristol-Myers Squibb (NYSE:BMY)
Caisse DE Depot ET Placement DU Quebec trimmed its stake in Bristol-Myers Squibb (NYSE:BMY – Free Report) by 17.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,551,858 shares of the biopharmaceutical company’s stock after selling 992,983 shares during the quarter. Bristol-Myers Squibb makes up about 0.8% of Caisse DE Depot ET Placement DU Quebec’s portfolio, making the stock its 26th biggest holding. Caisse DE Depot ET Placement DU Quebec owned 0.22% of Bristol-Myers Squibb worth $291,091,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the stock. Dakota Wealth Management bought a new stake in Bristol-Myers Squibb in the 1st quarter valued at $332,000. Covestor Ltd lifted its stake in shares of Bristol-Myers Squibb by 111.5% during the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 1,082 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 53.2% during the 1st quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock worth $12,075,000 after buying an additional 57,444 shares during the period. Ergoteles LLC acquired a new position in Bristol-Myers Squibb in the 1st quarter valued at about $1,997,000. Finally, Mackenzie Financial Corp raised its holdings in Bristol-Myers Squibb by 25.1% in the 1st quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after acquiring an additional 68,018 shares during the period. Institutional investors and hedge funds own 74.98% of the company’s stock.
Bristol-Myers Squibb Stock Performance
Shares of BMY stock traded up $0.15 during trading hours on Friday, hitting $50.31. 10,123,073 shares of the company were exchanged, compared to its average volume of 13,215,565. Bristol-Myers Squibb has a 52-week low of $48.25 and a 52-week high of $80.67. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 1.11. The firm has a fifty day simple moving average of $52.75 and a 200 day simple moving average of $59.08. The stock has a market capitalization of $102.37 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 1.61 and a beta of 0.34.
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.24. Bristol-Myers Squibb had a return on equity of 51.59% and a net margin of 18.44%. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the prior year, the company earned $1.99 EPS. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. Research analysts predict that Bristol-Myers Squibb will post 7.56 earnings per share for the current fiscal year.
Bristol-Myers Squibb Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, January 5th will be paid a dividend of $0.60 per share. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Thursday, January 4th. Bristol-Myers Squibb’s dividend payout ratio is presently 57.87%.
Insider Buying and Selling
In related news, Director Theodore R. Samuels II bought 8,500 shares of the company’s stock in a transaction on Monday, November 20th. The shares were purchased at an average price of $49.81 per share, for a total transaction of $423,385.00. Following the completion of the transaction, the director now directly owns 35,500 shares in the company, valued at approximately $1,768,255. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Theodore R. Samuels II purchased 8,500 shares of the stock in a transaction dated Monday, November 20th. The shares were purchased at an average cost of $49.81 per share, with a total value of $423,385.00. Following the completion of the acquisition, the director now owns 35,500 shares in the company, valued at approximately $1,768,255. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Christopher S. Boerner acquired 3,071 shares of Bristol-Myers Squibb stock in a transaction that occurred on Tuesday, November 28th. The shares were purchased at an average cost of $48.86 per share, with a total value of $150,049.06. Following the purchase, the chief executive officer now owns 79,384 shares of the company’s stock, valued at approximately $3,878,702.24. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 13,571 shares of company stock valued at $672,994. Company insiders own 0.09% of the company’s stock.
Wall Street Analysts Forecast Growth
BMY has been the subject of a number of research analyst reports. Truist Financial restated a “buy” rating and set a $84.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 6th. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, October 27th. Daiwa Capital Markets downgraded Bristol-Myers Squibb from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $68.00 to $54.00 in a report on Thursday, November 2nd. BMO Capital Markets cut shares of Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating and set a $60.00 target price for the company. in a research report on Friday, October 27th. Finally, TheStreet lowered shares of Bristol-Myers Squibb from a “b-” rating to a “c+” rating in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.59.
View Our Latest Analysis on BMY
Bristol-Myers Squibb Profile (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, 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; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
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