Forsta AP Fonden Has $28.15 Million Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Forsta AP Fonden reduced its holdings in Bristol Myers Squibb Company by 27.6%, selling 176,400 shares during the first quarter and now owning 461,600 shares valued at approximately $28 million.
• Bristol Myers Squibb reported earnings of $1.46 per share, significantly exceeding analyst expectations of $1.07, with a revenue of $12.27 billion for the quarter.
• The company also announced a quarterly dividend of $0.62 per share, with a yield of 5.5%, indicating a payout ratio of 100%.

Forsta AP Fonden trimmed its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 27.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 461,600 shares of the biopharmaceutical company's stock after selling 176,400 shares during the period. Forsta AP Fonden's holdings in Bristol Myers Squibb were worth $28,153,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pinney & Scofield Inc. bought a new position in Bristol Myers Squibb in the 4th quarter worth approximately $25,000. Park Square Financial Group LLC acquired a new position in shares of Bristol Myers Squibb during the fourth quarter valued at $26,000. Transce3nd LLC bought a new stake in shares of Bristol Myers Squibb during the fourth quarter valued at about $28,000. Global Wealth Strategies & Associates lifted its holdings 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 worth $29,000 after purchasing an additional 275 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Bristol Myers Squibb during the 1st quarter valued at about $31,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Trading Up 1.3%

Shares of BMY traded up $0.60 during midday trading on Friday, hitting $45.96. The stock had a trading volume of 9,987,114 shares, compared to its average volume of 13,753,402. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The business has a 50-day simple moving average of $47.32 and a two-hundred day simple moving average of $51.87. The firm has a market cap of $93.55 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 2.35 and a beta of 0.36. 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 (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.07 by $0.39. The business had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $2.07 earnings per share. As a group, 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 declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.4%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 100.00%.

Wall Street Analysts Forecast Growth

Several research firms have commented on BMY. UBS Group lowered their target price on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Cantor Fitzgerald reissued a "neutral" rating and set a $55.00 target price on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Finally, Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average 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.