Trustco Bank Corp N Y Sells 900 Shares of Bristol-Myers Squibb (NYSE:BMY)

Trustco Bank Corp N Y lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,173 shares of the biopharmaceutical company’s stock after selling 900 shares during the quarter. Trustco Bank Corp N Y’s holdings in Bristol-Myers Squibb were worth $349,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truist Financial Corp increased its position in Bristol-Myers Squibb by 3.9% during the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company’s stock worth $90,335,000 after acquiring an additional 60,365 shares during the period. Corundum Group Inc. increased its holdings in Bristol-Myers Squibb by 67.8% in the 4th quarter. Corundum Group Inc. now owns 43,534 shares of the biopharmaceutical company’s stock valued at $2,462,000 after buying an additional 17,596 shares during the period. High Net Worth Advisory Group LLC increased its holdings in Bristol-Myers Squibb by 42.2% in the 4th quarter. High Net Worth Advisory Group LLC now owns 16,974 shares of the biopharmaceutical company’s stock valued at $960,000 after buying an additional 5,040 shares during the period. KBC Group NV increased its holdings in Bristol-Myers Squibb by 18.4% in the 4th quarter. KBC Group NV now owns 4,054,868 shares of the biopharmaceutical company’s stock valued at $229,343,000 after buying an additional 628,908 shares during the period. Finally, Quilter Plc increased its holdings in Bristol-Myers Squibb by 56.6% in the 4th quarter. Quilter Plc now owns 107,818 shares of the biopharmaceutical company’s stock valued at $6,098,000 after buying an additional 38,977 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 2.1%

Shares of NYSE BMY opened at $46.77 on Monday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The stock’s fifty day moving average is $53.05 and its 200 day moving average is $55.99. The stock has a market capitalization of $95.18 billion, a P/E ratio of -10.58, a PEG ratio of 2.07 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.30. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The firm had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. During the same quarter in the previous year, the business posted ($4.40) earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. Sell-side analysts forecast that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 4th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.30%. The ex-dividend date of this dividend was Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 92.88%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BMY. The Goldman Sachs Group reissued a “neutral” rating and issued a $55.00 price target (down previously from $67.00) on shares of Bristol-Myers Squibb in a report on Tuesday, April 8th. Citigroup boosted their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Jefferies Financial Group lowered their target price on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company upped their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Finally, Piper Sandler began coverage on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 target price on the stock. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $58.00.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 4,250 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the purchase, the executive vice president now directly owns 83,513 shares in the company, valued at $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.09% of the company’s stock.

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.