Bristol-Myers Squibb (NYSE:BMY) Shares Sold by SPC Financial Inc.

SPC Financial Inc. reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 10.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,168 shares of the biopharmaceutical company’s stock after selling 840 shares during the quarter. SPC Financial Inc.’s holdings in Bristol-Myers Squibb were worth $389,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth $1,560,524,000. Primecap Management Co. CA lifted its holdings in shares of Bristol-Myers Squibb by 14.6% during the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after purchasing an additional 2,998,228 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Bristol-Myers Squibb by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock worth $870,198,000 after purchasing an additional 1,246,066 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 119.8% during the first quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock worth $666,699,000 after purchasing an additional 6,701,097 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Bristol-Myers Squibb by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,361,717 shares of the biopharmaceutical company’s stock worth $582,970,000 after purchasing an additional 134,815 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BMY. Wells Fargo & Company increased their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. BMO Capital Markets reduced their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. Finally, Barclays reduced their target price on Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $59.50.

Bristol-Myers Squibb Trading Up 0.0 %

Bristol-Myers Squibb stock opened at $40.77 on Friday. The stock has a market cap of $82.64 billion, a PE ratio of -13.14, a P/E/G ratio of 14.07 and a beta of 0.44. The stock has a 50-day moving average price of $41.99 and a 200 day moving average price of $47.47. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $65.38. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same period last year, the company earned $2.05 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts predict that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.89%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

About Bristol-Myers Squibb

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.