Princeton Global Asset Management LLC Decreases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Princeton Global Asset Management LLC decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 13.7% in the fourth quarter, Holdings Channel reports. The firm owned 2,186 shares of the biopharmaceutical company’s stock after selling 346 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp raised its holdings in shares of Bristol-Myers Squibb by 1.6% during the third quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock valued at $4,806,469,000 after purchasing an additional 1,451,214 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Bristol-Myers Squibb by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock valued at $3,157,713,000 after buying an additional 1,968,729 shares during the period. FMR LLC boosted its stake in shares of Bristol-Myers Squibb by 10.5% in the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after buying an additional 4,275,787 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Bristol-Myers Squibb by 2.5% in the third quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company’s stock worth $2,228,425,000 after acquiring an additional 1,036,495 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Bristol-Myers Squibb by 18.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock valued at $986,931,000 after acquiring an additional 3,002,418 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $60.03 on Tuesday. The company has a 50 day simple moving average of $57.60 and a two-hundred day simple moving average of $53.34. The stock has a market cap of $121.76 billion, a price-to-earnings ratio of -16.72, a PEG ratio of 2.10 and a beta of 0.45. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10.

Bristol-Myers Squibb Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were given a $0.62 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.13%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is -69.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. TD Cowen upped their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Finally, BMO Capital Markets upped their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $56.60.

Bristol-Myers Squibb Company 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.