First Hawaiian Bank Lowers Position in Bristol-Myers Squibb (NYSE:BMY)

First Hawaiian Bank trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,907 shares of the biopharmaceutical company’s stock after selling 4,291 shares during the period. First Hawaiian Bank’s holdings in Bristol-Myers Squibb were worth $2,800,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BMY. Norges Bank purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at about $1,989,525,000. Ameriprise Financial Inc. raised its holdings in shares of Bristol-Myers Squibb by 59.9% during the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock valued at $1,814,341,000 after buying an additional 12,011,983 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Bristol-Myers Squibb by 701.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company’s stock worth $705,309,000 after purchasing an additional 10,913,708 shares during the period. Wellington Management Group LLP increased its stake in Bristol-Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock worth $338,088,000 after purchasing an additional 5,827,317 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $257,618,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 4,250 shares of the firm’s stock in a transaction dated Friday, April 25th. The stock was purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the purchase, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Stock Up 1.8%

Shares of NYSE:BMY opened at $47.80 on Friday. The stock has a fifty day simple moving average of $50.71 and a two-hundred day simple moving average of $55.46. The stock has a market capitalization of $97.27 billion, a price-to-earnings ratio of -10.81, a PEG ratio of 2.07 and a beta of 0.39. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.33. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data 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 business had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $10.77 billion. During the same quarter in the previous year, the business earned ($4.40) earnings per share. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, research analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 4th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 5.19%. The ex-dividend date of this dividend was Friday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently 92.88%.

Analyst Ratings Changes

A number of brokerages have commented on BMY. UBS Group decreased their price target on Bristol-Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Friday, April 25th. Jefferies Financial Group cut their price objective on Bristol-Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $55.00 price target on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $58.00.

Bristol-Myers Squibb 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.