Berkshire Asset Management LLC PA Sells 3,280 Shares of Bristol Myers Squibb Company $BMY

Berkshire Asset Management LLC PA lessened its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 580,570 shares of the biopharmaceutical company’s stock after selling 3,280 shares during the quarter. Bristol Myers Squibb comprises 1.7% of Berkshire Asset Management LLC PA’s investment portfolio, making the stock its 24th largest position. Berkshire Asset Management LLC PA’s holdings in Bristol Myers Squibb were worth $35,409,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its position in Bristol Myers Squibb by 1.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock worth $78,580,000 after buying an additional 13,959 shares during the last quarter. Polar Asset Management Partners Inc. bought a new stake in Bristol Myers Squibb in the 4th quarter worth approximately $16,651,000. Avaii Wealth Management LLC lifted its position in Bristol Myers Squibb by 590.9% in the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company’s stock worth $4,794,000 after buying an additional 67,221 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Bristol Myers Squibb by 1.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company’s stock worth $3,967,000 after buying an additional 869 shares during the last quarter. Finally, Shorepoint Capital Partners LLC lifted its position in Bristol Myers Squibb by 2.2% in the 4th quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company’s stock worth $3,305,000 after buying an additional 1,248 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Piper Sandler assumed coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 target price for the company. Citigroup decreased their price target on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, August 1st. Wall Street Zen cut Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. William Blair reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Finally, Daiwa America cut Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Bristol Myers Squibb currently has an average rating of “Hold” and an average price target of $56.38.

Bristol Myers Squibb Price Performance

BMY opened at $48.19 on Tuesday. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. The stock has a market capitalization of $98.09 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.48 and a beta of 0.36. The stock’s 50 day moving average price is $47.21 and its 200-day moving average price is $51.32.

Bristol Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. The firm had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $11.32 billion. During the same period in the previous year, the firm earned $2.07 earnings per share. The business’s revenue was up .6% 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 year.

Bristol Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio is presently 100.00%.

About Bristol Myers Squibb

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.