Miracle Mile Advisors LLC Has $602,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Posted by Defense World Staff on Mar 31st, 2023

Miracle Mile Advisors LLC lowered its position in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 19.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,374 shares of the biopharmaceutical company’s stock after selling 1,968 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Bristol-Myers Squibb were worth $602,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BMY. New Millennium Group LLC acquired a new stake in Bristol-Myers Squibb in the second quarter valued at $31,000. My Personal CFO LLC acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth about $35,000. Clear Investment Research LLC acquired a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth about $36,000. Western Pacific Wealth Management LP lifted its stake in shares of Bristol-Myers Squibb by 878.6% during the 3rd quarter. Western Pacific Wealth Management LP now owns 548 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 492 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 75.51% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.0 %

Shares of NYSE BMY opened at $68.20 on Friday. The company has a market capitalization of $143.45 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 1.48 and a beta of 0.46. Bristol-Myers Squibb has a 52-week low of $65.28 and a 52-week high of $81.43. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.14 and a current ratio of 1.25. The company’s 50 day moving average price is $70.16 and its 200-day moving average price is $72.82.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.11. The company had revenue of $11.41 billion during the quarter, compared to analyst estimates of $11.20 billion. Bristol-Myers Squibb had a net margin of 13.71% and a return on equity of 51.60%. Bristol-Myers Squibb’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.83 EPS. Equities analysts forecast that Bristol-Myers Squibb will post 8.06 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $2.28 dividend on an annualized basis and a yield of 3.34%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 77.29%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Atlantic Securities raised their target price on shares of Bristol-Myers Squibb from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. StockNews.com assumed coverage on shares of Bristol-Myers Squibb in a research report on Thursday, March 16th. They set a “strong-buy” rating on the stock. Jefferies Financial Group assumed coverage on shares of Bristol-Myers Squibb in a research report on Monday, March 6th. They set a “hold” rating and a $62.00 price target on the stock. Cantor Fitzgerald initiated coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, January 17th. They set an “overweight” rating and a $95.00 price target on the stock. Finally, Wells Fargo & Company raised their target price on shares of Bristol-Myers Squibb from $70.00 to $78.00 and gave the company an “equal weight” rating in a report on Tuesday, January 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.69.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Ann Powell sold 11,183 shares of the business’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $74.69, for a total transaction of $835,258.27. Following the completion of the sale, the executive vice president now owns 23,043 shares in the company, valued at approximately $1,721,081.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Ann Powell sold 11,183 shares of the company’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $74.69, for a total value of $835,258.27. Following the completion of the sale, the executive vice president now owns 23,043 shares in the company, valued at approximately $1,721,081.67. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Giovanni Caforio sold 240,000 shares of the company’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $74.65, for a total transaction of $17,916,000.00. Following the completion of the sale, the chief executive officer now owns 236,104 shares of the company’s stock, valued at approximately $17,625,163.60. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

About Bristol-Myers Squibb

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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.

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

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