Charles Schwab Investment Management Inc. Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.2% in the fourth quarter, HoldingsChannel reports. The firm owned 60,300,475 shares of the biopharmaceutical company’s stock after selling 729,928 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Bristol-Myers Squibb were worth $3,410,595,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Hollencrest Capital Management grew its stake in Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the period. Kennebec Savings Bank purchased a new stake in Bristol-Myers Squibb in the 3rd quarter worth approximately $28,000. Darwin Wealth Management LLC purchased a new stake in Bristol-Myers Squibb in the 3rd quarter worth approximately $29,000. Dunhill Financial LLC grew its stake in Bristol-Myers Squibb by 39.8% in the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 189 shares during the period. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth approximately $34,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The shares were purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This represents a 2.94 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by company insiders.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $59.85 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $121.45 billion, a price-to-earnings ratio of -13.54, a PEG ratio of 2.07 and a beta of 0.45. The firm’s fifty day simple moving average is $57.20 and its 200 day simple moving average is $54.86. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.10.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. As a group, equities research analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.14%. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Jefferies Financial Group raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their target price for the stock from $63.00 to $70.00 in a research note on Monday, December 16th. Bank of America reaffirmed a “neutral” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Morgan Stanley lifted their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. BMO Capital Markets lifted their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Finally, Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $57.86.

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.