Mission Wealth Management LP Sells 2,183 Shares of Bristol-Myers Squibb (NYSE:BMY)

Mission Wealth Management LP trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 24,063 shares of the biopharmaceutical company’s stock after selling 2,183 shares during the quarter. Mission Wealth Management LP’s holdings in Bristol-Myers Squibb were worth $1,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Horan Securities Inc. increased its stake in shares of Bristol-Myers Squibb by 217.3% in the 2nd quarter. Horan Securities Inc. now owns 441 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 302 shares in the last quarter. PNC Managed Account Solutions Inc. purchased a new stake in Bristol-Myers Squibb in the 2nd quarter worth $37,000. Regency Capital Management Inc. DE purchased a new stake in Bristol-Myers Squibb in the 1st quarter worth $43,000. Cypress Point Wealth Management LLC purchased a new stake in Bristol-Myers Squibb in the 2nd quarter worth $48,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at about $55,000. 72.10% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CFO David V. Elkins sold 99,691 shares of the business’s stock in a transaction dated Thursday, August 12th. The shares were sold at an average price of $66.95, for a total value of $6,674,312.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by company insiders.

BMY has been the subject of several analyst reports. Bank of America reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, July 28th. Morgan Stanley lifted their price target on shares of Bristol-Myers Squibb from $62.00 to $71.00 and gave the stock an “equal weight” rating in a report on Thursday, July 29th. Truist assumed coverage on shares of Bristol-Myers Squibb in a report on Wednesday, July 28th. They issued a “buy” rating and a $74.00 price target on the stock. Finally, Truist Securities began coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, July 28th. They set a “buy” rating and a $74.00 price objective for the company. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Buy” and a consensus price target of $73.83.

BMY stock opened at $61.34 on Friday. The business has a fifty day moving average of $66.88 and a 200-day moving average of $65.31. The company has a market cap of $136.30 billion, a P/E ratio of -26.97, a PEG ratio of 1.20 and a beta of 0.61. The company has a quick ratio of 1.42, a current ratio of 1.54 and a debt-to-equity ratio of 1.15. Bristol-Myers Squibb has a twelve month low of $56.75 and a twelve month high of $69.75.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Tuesday, July 27th. The biopharmaceutical company reported $1.93 EPS for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.04. Bristol-Myers Squibb had a positive return on equity of 37.76% and a negative net margin of 11.44%. The firm had revenue of $11.70 billion for the quarter, compared to analyst estimates of $11.24 billion. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 7.46 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Friday, October 1st will be issued a dividend of $0.49 per share. The ex-dividend date is Thursday, September 30th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.20%. Bristol-Myers Squibb’s dividend payout ratio is currently 30.43%.

About Bristol-Myers Squibb

Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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