Alps Advisors Inc. Trims Stake in Bristol Myers Squibb Company (NYSE:BMY)

Alps Advisors Inc. decreased its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 5.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 409,412 shares of the biopharmaceutical company's stock after selling 24,893 shares during the period. Alps Advisors Inc.'s holdings in Bristol Myers Squibb were worth $24,970,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Bristol Myers Squibb by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company's stock worth $10,743,262,000 after purchasing an additional 1,373,209 shares during the period. Capital International Investors raised its stake in shares of Bristol Myers Squibb by 7.5% during the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock worth $2,593,940,000 after acquiring an additional 3,218,865 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Bristol Myers Squibb by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company's stock valued at $2,505,967,000 after purchasing an additional 1,187,231 shares during the last quarter. Norges Bank acquired a new stake in Bristol Myers Squibb in the fourth quarter worth about $1,989,525,000. Finally, Ameriprise Financial Inc. grew its position in 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 worth $1,814,341,000 after purchasing an additional 12,011,983 shares during the last quarter. Institutional investors own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

BMY has been the subject of several research analyst reports. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Jefferies Financial Group decreased their price objective on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. UBS Group dropped their price target on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, Morgan Stanley decreased their target price on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $57.69.

Bristol Myers Squibb Trading Down 3.3%

Shares of NYSE:BMY traded down $1.61 during mid-day trading on Friday, reaching $46.91. 13,670,701 shares of the company were exchanged, compared to its average volume of 12,830,370. Bristol Myers Squibb Company has a 1 year low of $39.93 and a 1 year high of $63.33. The firm's 50-day simple moving average is $47.51 and its 200 day simple moving average is $53.22. The firm has a market cap of $95.47 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 2.38 and a beta of 0.36. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. The firm had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The business's quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($4.40) earnings per share. Equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be paid a $0.62 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.29%. Bristol Myers Squibb's dividend payout ratio is currently 92.88%.

Insider Activity at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the stock in a transaction dated Friday, April 25th. The stock was acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the transaction, the executive vice president owned 83,513 shares in the company, valued at $3,973,548.54. The trade was a 5.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.07% of the company's stock.

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.