Morningstar Investment Management LLC reduced its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 43.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,191 shares of the biopharmaceutical company's stock after selling 8,775 shares during the quarter. Morningstar Investment Management LLC's holdings in Bristol Myers Squibb were worth $683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC raised its position in Bristol Myers Squibb by 33.4% in the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock worth $1,116,000 after purchasing an additional 4,935 shares during the period. Bank Pictet & Cie Europe AG purchased a new position in shares of Bristol Myers Squibb in the fourth quarter worth about $13,094,000. Orion Portfolio Solutions LLC lifted its stake in shares of Bristol Myers Squibb by 8.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 42,933 shares of the biopharmaceutical company's stock valued at $2,428,000 after acquiring an additional 3,436 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Bristol Myers Squibb by 3.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 307,582 shares of the biopharmaceutical company's stock valued at $17,474,000 after acquiring an additional 11,057 shares during the period. Finally, Skba Capital Management LLC bought a new position in Bristol Myers Squibb during the 4th quarter worth approximately $209,000. 76.41% of the stock is currently owned by institutional investors.
Bristol Myers Squibb Stock Down 1.4%
Bristol Myers Squibb stock traded down $0.66 during mid-day trading on Tuesday, reaching $46.85. The stock had a trading volume of 11,261,704 shares, compared to its average volume of 11,210,511. Bristol Myers Squibb Company has a one year low of $44.00 and a one year high of $63.33. The company has a 50-day moving average price of $47.65 and a two-hundred day moving average price of $52.49. The company has a market capitalization of $95.35 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 2.50 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 Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.62 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.29%. Bristol Myers Squibb's dividend payout ratio is 92.88%.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. The Goldman Sachs Group reissued a "neutral" rating and set a $55.00 price objective (down previously from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Morgan Stanley cut their price target on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating on the stock in a report on Thursday, July 10th. Wall Street Zen downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $55.00 price objective on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Finally, Jefferies Financial Group reduced 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 research report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $58.53.
Check Out Our Latest Stock Analysis on Bristol Myers Squibb
About Bristol Myers Squibb
(
Free Report)
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.
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