Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 34,400 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Bristol Myers Squibb by 8.1%, selling 34,400 shares, and holding a total of 391,906 shares now valued at $23.9 million.
• Bristol Myers Squibb reported a strong quarterly earnings result with $1.46 EPS, exceeding expectations, and revenue of $12.27 billion, surpassing analyst forecasts of $11.32 billion.
• The company recently announced a quarterly dividend of $0.62 per share, contributing to an annualized payout of $2.48 and a yield of 5.2%.

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 8.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 391,906 shares of the biopharmaceutical company's stock after selling 34,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Bristol Myers Squibb were worth $23,902,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Pinney & Scofield Inc. acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at about $25,000. Park Square Financial Group LLC acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at about $26,000. Transce3nd LLC acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at about $28,000. Global Wealth Strategies & Associates boosted its stake in Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 275 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Bristol Myers Squibb in the first quarter valued at about $31,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $55.00 price objective on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Citigroup cut their price target on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Jefferies Financial Group cut their price target on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $56.38.

Bristol Myers Squibb Trading Up 1.3%

Shares of Bristol Myers Squibb stock traded up $0.64 during midday trading 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 stock has a fifty day moving average price of $47.23 and a 200 day moving average price of $51.45. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The firm has a market cap of $98.62 billion, a PE ratio of 19.54, a P/E/G ratio of 2.48 and a beta of 0.36. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33.

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

Bristol Myers Squibb Announces Dividend

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

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.