Bristol Myers Squibb Company $BMY Holdings Decreased by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Bristol Myers Squibb by 8.6%, owning 683,320 shares valued at approximately $41.68 million as of its recent filing.
• Several institutional investors, including Vanguard Group and Ameriprise Financial, have increased their stakes; Ameriprise raised its position by an impressive 59.9% during the fourth quarter.
• Bristol Myers Squibb reported a quarterly earnings per share of $1.46, significantly surpassing the consensus estimate of $1.07, with revenue for the quarter reaching $12.27 billion.

State of New Jersey Common Pension Fund D cut its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 8.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 683,320 shares of the biopharmaceutical company's stock after selling 63,961 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Bristol Myers Squibb were worth $41,676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in BMY. Pinney & Scofield Inc. acquired a new stake in Bristol Myers Squibb during the fourth quarter worth about $25,000. Park Square Financial Group LLC acquired a new stake in shares of Bristol Myers Squibb in the fourth quarter valued at about $26,000. Global Wealth Strategies & Associates grew its stake in shares of 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. Transce3nd LLC acquired a new stake in shares of Bristol Myers Squibb in the fourth quarter valued at about $28,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Bristol Myers Squibb in the first quarter valued at about $31,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol Myers Squibb Stock Performance

Bristol Myers Squibb stock traded down $0.25 during mid-day trading on Monday, hitting $48.19. 7,865,214 shares of the company's stock traded hands, compared to its average volume of 12,742,200. The firm has a 50 day moving average price of $47.21 and a 200 day moving average price of $51.32. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The company has a market cap of $98.09 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.48 and a beta of 0.36. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data 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 return on equity of 80.04% and a net margin of 10.58%. The company had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the previous year, the business earned $2.07 EPS. The company's quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BMY shares. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Argus upgraded Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Jefferies Financial Group lowered their price objective on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Piper Sandler started coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price for the company. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target 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.