M&G Plc Sells 567,099 Shares of Bristol-Myers Squibb (NYSE:BMY)

M&G Plc trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 5.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,183,928 shares of the biopharmaceutical company’s stock after selling 567,099 shares during the quarter. Bristol-Myers Squibb accounts for 2.4% of M&G Plc’s portfolio, making the stock its 6th largest holding. M&G Plc owned approximately 0.45% of Bristol-Myers Squibb worth $477,564,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Reston Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $25,000. ESL Trust Services LLC bought a new position in Bristol-Myers Squibb in the 1st quarter worth approximately $27,000. Valued Wealth Advisors LLC raised its position in Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares during the last quarter. LGT Financial Advisors LLC raised its position in Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new position in Bristol-Myers Squibb in the 3rd quarter worth approximately $34,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The shares were acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the purchase, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Price Performance

BMY opened at $55.28 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $56.80. The company has a fifty day simple moving average of $51.69 and a 200 day simple moving average of $46.72. The stock has a market cap of $112.12 billion, a P/E ratio of -15.40, a P/E/G ratio of 13.14 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.00 EPS. On average, research analysts expect that Bristol-Myers Squibb will post 0.83 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is presently -66.85%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. UBS Group boosted their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Citigroup cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $75.00 to $55.00 in a research report on Friday, October 25th. Finally, TD Cowen upped their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $53.00.

Bristol-Myers Squibb Company Profile

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 for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.