Boston Partners Sells 24,852 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Boston Partners has decreased its stake in Bristol Myers Squibb by 0.6%, holding 3,866,114 shares worth approximately $235.5 million after a reduction of 24,852 shares in the first quarter of the year.
• Recent analyst ratings show a trend of downgrades for Bristol Myers Squibb, with Citigroup and Daiwa America lowering price targets, resulting in a consensus hold rating and price target of $56.38.
• The company has declared a quarterly dividend of $0.62 per share, which equates to an annual dividend yield of 5.2%, although its payout ratio stands at 100%.

Boston Partners cut its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 0.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,866,114 shares of the biopharmaceutical company's stock after selling 24,852 shares during the period. Boston Partners owned 0.19% of Bristol Myers Squibb worth $235,514,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Bristol Myers Squibb by 0.8% in the first quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company's stock worth $11,673,669,000 after buying an additional 1,458,488 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Bristol Myers Squibb by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company's stock worth $3,696,415,000 after buying an additional 306,430 shares during the period. Capital International Investors lifted its holdings in Bristol Myers Squibb by 7.5% in the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock worth $2,593,940,000 after buying an additional 3,218,865 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Bristol Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after purchasing an additional 12,011,983 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Bristol Myers Squibb by 8.6% during the first quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock valued at $1,638,501,000 after purchasing an additional 2,131,205 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Performance

NYSE:BMY traded up $0.64 during trading hours on Friday, reaching $48.45. The company had a trading volume of 11,206,898 shares, compared to its average volume of 12,717,643. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The firm has a market cap of $98.62 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.48 and a beta of 0.36. The firm's 50 day moving average price is $47.23 and its 200-day moving average price is $51.45.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the previous year, the firm posted $2.07 EPS. The firm's revenue was up .6% on a year-over-year basis. On average, analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.1%. Bristol Myers Squibb's payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BMY shares. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Cantor Fitzgerald reiterated a "neutral" rating and set a $55.00 target price on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a report on Tuesday, August 5th. Finally, Jefferies Financial Group lowered their target price on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Bristol Myers Squibb currently has an average rating of "Hold" and a consensus target price of $56.38.

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.