Independent Investors Inc. lessened its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 5.5% during the 4th quarter, Holdings Channel reports. The firm owned 41,520 shares of the biopharmaceutical company’s stock after selling 2,400 shares during the quarter. Bristol-Myers Squibb comprises 0.9% of Independent Investors Inc.’s holdings, making the stock its 27th biggest position. Independent Investors Inc.’s holdings in Bristol-Myers Squibb were worth $2,158,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in BMY. Winslow Capital Management LLC acquired a new position in Bristol-Myers Squibb during the third quarter valued at approximately $378,839,000. Jennison Associates LLC grew its holdings in Bristol-Myers Squibb by 23.4% during the third quarter. Jennison Associates LLC now owns 21,526,559 shares of the biopharmaceutical company’s stock valued at $1,336,369,000 after purchasing an additional 4,080,245 shares during the last quarter. Schroder Investment Management Group grew its holdings in Bristol-Myers Squibb by 419.0% during the second quarter. Schroder Investment Management Group now owns 3,851,748 shares of the biopharmaceutical company’s stock valued at $213,003,000 after purchasing an additional 3,109,664 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Bristol-Myers Squibb by 44.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,460,148 shares of the biopharmaceutical company’s stock valued at $587,287,000 after purchasing an additional 2,903,920 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in Bristol-Myers Squibb by 2.4% during the third quarter. BlackRock Inc. now owns 114,573,885 shares of the biopharmaceutical company’s stock valued at $7,112,747,000 after purchasing an additional 2,660,326 shares during the last quarter. Institutional investors own 72.68% of the company’s stock.
BMY has been the topic of several research analyst reports. BMO Capital Markets restated a “buy” rating and issued a $60.00 price objective on shares of Bristol-Myers Squibb in a research note on Thursday, January 3rd. Morgan Stanley lowered their price objective on shares of Bristol-Myers Squibb from $63.00 to $59.00 and set a “hold” rating on the stock in a research note on Tuesday, November 6th. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Friday, October 5th. Guggenheim initiated coverage on shares of Bristol-Myers Squibb in a research note on Monday, October 8th. They issued a “neutral” rating on the stock. Finally, ValuEngine downgraded shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $61.56.
Shares of BMY stock opened at $47.99 on Monday. The firm has a market capitalization of $77.01 billion, a P/E ratio of 15.94, a PEG ratio of 1.29 and a beta of 0.98. Bristol-Myers Squibb Co has a one year low of $44.30 and a one year high of $70.05. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.53 and a quick ratio of 1.40.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.91 by $0.18. The firm had revenue of $5.69 billion during the quarter, compared to analysts’ expectations of $5.72 billion. Bristol-Myers Squibb had a return on equity of 47.89% and a net margin of 6.50%. As a group, sell-side analysts predict that Bristol-Myers Squibb Co will post 3.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Friday, January 4th will be given a $0.41 dividend. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Thursday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 54.49%.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic areas, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
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