McGuire Investment Group LLC Decreases Position in Bristol-Myers Squibb (NYSE:BMY)



McGuire Investment Group LLC cuts its stake in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 10.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,652 shares of the biopharmaceutical company’s stock after selling 14,651 during the quarter. Bristol-Myers Squibb makes up approximately 1.6% of McGuire Investment Group LLC’s portfolio, making the stock its 23rd largest holding. McGuire Investment Group LLC’s holdings in Bristol-Myers Squibb were worth $8,884,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Stratos Wealth Advisors LLC lifted its stake in Bristol-Myers Squibb by 10.4% in the 4th quarter. Stratos Wealth Advisors LLC now owns 41,528 shares of the biopharmaceutical company’s stock worth $2,589,000 after purchasing an additional 3,929 shares in the last quarter. Fundamentun LLC lifted its stake in Bristol-Myers Squibb by 17.1% in the 4th quarter. Fundamentun LLC now owns 12,163 shares of the biopharmaceutical company’s stock worth $758,000 after purchasing an additional 1,775 shares in the last quarter. BKD Wealth Advisors LLC lifted its stake in Bristol-Myers Squibb by 10.3% in the 4th quarter. BKD Wealth Advisors LLC now owns 11,663 shares of the biopharmaceutical company’s stock worth $727,000 after purchasing an additional 1,089 shares in the last quarter. Wedmont Private Capital purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $422,000. Finally, Relyea Zuckerberg Hanson LLC purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $324,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

BMY has been the topic of a number of research reports. Bank of America raised their target price on shares of Bristol-Myers Squibb from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, June 6th. Citigroup restated a “buy” rating and set a $90.00 price target on shares of Bristol-Myers Squibb in a report on Friday, June 3rd. Barclays raised their price target on shares of Bristol-Myers Squibb from $66.00 to $68.00 in a report on Monday, May 2nd. Wells Fargo & Company raised their price target on shares of Bristol-Myers Squibb from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 17th. Finally, Trust Financial raised their price target on shares of Bristol-Myers Squibb from $76.00 to $81.00 in a report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Moderate Buy” and an average target price of $74.27.

In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 30,000 shares of the business’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $74.04, for a total value of $2,221,200.00. Following the completion of the transaction, the chief executive officer now owns 551,104 shares in the company, valued at $40,803,740.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Sandra Leung sold 65,000 shares of the business’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $74.89, for a total transaction of $4,867,850.00. Following the completion of the transaction, the executive vice president now owns 308,627 shares of the company’s stock, valued at approximately $23,113,076.03. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb stock opened at $75.96 on Wednesday. Bristol-Myers Squibb has a fifty-two week low of $53.22 and a fifty-two week high of $80.59. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.23 and a current ratio of 1.32. The firm has a 50 day moving average price of $76.13 and a 200 day moving average price of $71.10. The company has a market capitalization of $161.72 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 1.63 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last posted its earnings results on Friday, April 29th. The biopharmaceutical company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.04. The firm had revenue of $11.65 billion during the quarter, compared to the consensus estimate of $11.34 billion. Bristol-Myers Squibb had a net margin of 13.31% and a return on equity of 48.37%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.74 EPS. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 7.58 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 1st will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $2.16 annualized dividend and a dividend yield of 2.84%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 76.60%.

About Bristol-Myers Squibb (Get Rating)

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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