First American Trust FSB reduced its stake in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 12.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,875 shares of the biopharmaceutical company's stock after selling 410 shares during the period. First American Trust FSB's holdings in Bristol-Myers Squibb were worth $204,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Schubert & Co increased its stake in Bristol-Myers Squibb by 119.1% in the second quarter. Schubert & Co now owns 333 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 181 shares during the last quarter. Castle Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the second quarter valued at approximately $26,000. Kessler Investment Group LLC purchased a new position in Bristol-Myers Squibb in the second quarter valued at approximately $31,000. LFA Lugano Financial Advisors SA purchased a new position in Bristol-Myers Squibb in the second quarter valued at approximately $30,000. Finally, New Millennium Group LLC purchased a new position in shares of Bristol-Myers Squibb during the second quarter worth approximately $31,000. 75.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BMY. BMO Capital Markets raised their target price on shares of Bristol-Myers Squibb from $92.00 to $94.00 and gave the stock an "outperform" rating in a research report on Monday, September 12th. The Goldman Sachs Group restated a "buy" rating and set a $85.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, September 27th. Morgan Stanley lowered their target price on shares of Bristol-Myers Squibb from $61.00 to $60.00 and set an "underweight" rating on the stock in a research report on Thursday, October 27th. StockNews.com began coverage on shares of Bristol-Myers Squibb in a research report on Wednesday, October 12th. They set a "strong-buy" rating on the stock. Finally, Barclays lowered their target price on shares of Bristol-Myers Squibb from $69.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb has a consensus rating of "Moderate Buy" and an average price target of $79.00.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last released its earnings results on Tuesday, October 25th. The biopharmaceutical company reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.16. Bristol-Myers Squibb had a return on equity of 50.30% and a net margin of 14.29%. The company had revenue of $11.22 billion during the quarter, compared to the consensus estimate of $11.18 billion. During the same quarter last year, the company earned $2.00 earnings per share. Bristol-Myers Squibb's quarterly revenue was down 3.5% compared to the same quarter last year. As a group, analysts predict that Bristol-Myers Squibb will post 7.6 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Friday, January 6th will be issued a $0.57 dividend. The ex-dividend date is Thursday, January 5th. This represents a $2.28 dividend on an annualized basis and a yield of 3.13%. This is an increase from Bristol-Myers Squibb's previous quarterly dividend of $0.54. Bristol-Myers Squibb's dividend payout ratio (DPR) is 70.36%.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Ann Powell sold 16,250 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $80.45, for a total transaction of $1,307,312.50. Following the completion of the transaction, the executive vice president now owns 34,226 shares of the company's stock, valued at approximately $2,753,481.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Ann Powell sold 16,250 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $80.45, for a total transaction of $1,307,312.50. Following the completion of the transaction, the executive vice president now owns 34,226 shares of the company's stock, valued at approximately $2,753,481.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rupert Vessey sold 45,910 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 7th. The stock was sold at an average price of $78.88, for a total value of $3,621,380.80. Following the transaction, the executive vice president now directly owns 57,079 shares of the company's stock, valued at approximately $4,502,391.52. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Profile

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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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