Bristol-Myers Squibb (NYSE:BMY) Stake Lessened by Hartford Investment Management Co.

Hartford Investment Management Co. lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 4.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 136,960 shares of the biopharmaceutical company’s stock after selling 6,661 shares during the period. Hartford Investment Management Co.’s holdings in Bristol-Myers Squibb were worth $7,027,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BMY. Herold Advisors Inc. lifted its stake in Bristol-Myers Squibb by 3.2% during the third quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock valued at $1,954,000 after buying an additional 1,051 shares in the last quarter. Osterweis Capital Management Inc. lifted its position in shares of Bristol-Myers Squibb by 69.6% in the 2nd quarter. Osterweis Capital Management Inc. now owns 5,049 shares of the biopharmaceutical company’s stock valued at $323,000 after acquiring an additional 2,072 shares in the last quarter. Kestra Private Wealth Services LLC grew its position in Bristol-Myers Squibb by 9.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock worth $8,115,000 after purchasing an additional 12,121 shares in the last quarter. Metis Global Partners LLC raised its stake in Bristol-Myers Squibb by 14.8% during the 3rd quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock valued at $5,907,000 after purchasing an additional 13,122 shares during the period. Finally, Jmac Enterprises LLC lifted its holdings in shares of Bristol-Myers Squibb by 11.4% in the third quarter. Jmac Enterprises LLC now owns 12,171 shares of the biopharmaceutical company’s stock valued at $706,000 after purchasing an additional 1,245 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on BMY. Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $61.12.

Check Out Our Latest Stock Report on Bristol-Myers Squibb

Bristol-Myers Squibb Price Performance

BMY traded down $0.22 during trading on Wednesday, hitting $52.52. The company’s stock had a trading volume of 4,221,995 shares, compared to its average volume of 16,455,184. The firm’s 50 day moving average price is $51.08 and its two-hundred day moving average price is $52.21. The stock has a market capitalization of $106.45 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 1.60 and a beta of 0.39. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a 12 month low of $47.58 and a 12 month high of $71.07.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last posted its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The firm had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the prior year, the business earned $1.82 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts forecast that Bristol-Myers Squibb will post 6.61 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 4.57%. Bristol-Myers Squibb’s dividend payout ratio is currently 62.18%.

Bristol-Myers Squibb announced that its Board of Directors has approved a share repurchase plan on Thursday, December 7th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Bristol-Myers Squibb Company Profile

(Free Report)

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.

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

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