PNC Financial Services Group Inc. Has $267.42 Million Stake in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• PNC Financial Services Group Inc. reduced its stake in Bristol Myers Squibb by 1.2%, selling 55,242 shares, and now holds approximately 4.38 million shares valued at $267.4 million.
• Various institutional investors have increased their holdings in Bristol Myers, with Brighton Jones LLC leading with a boost of 33.4% in the last quarter.
• Analysts have mixed opinions on Bristol Myers Squibb, with a consensus rating of "Hold" and a price target average of $57.33.

PNC Financial Services Group Inc. reduced its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,384,718 shares of the biopharmaceutical company's stock after selling 55,242 shares during the period. PNC Financial Services Group Inc. owned 0.22% of Bristol Myers Squibb worth $267,424,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Jupiter Asset Management Ltd. acquired a new stake in Bristol Myers Squibb during the first quarter valued at approximately $7,451,000. TIAA Trust National Association lifted its stake in Bristol Myers Squibb by 24.5% during the first quarter. TIAA Trust National Association now owns 119,923 shares of the biopharmaceutical company's stock valued at $7,314,000 after purchasing an additional 23,625 shares during the last quarter. MONECO Advisors LLC lifted its stake in Bristol Myers Squibb by 2.6% during the first quarter. MONECO Advisors LLC now owns 17,254 shares of the biopharmaceutical company's stock valued at $1,052,000 after purchasing an additional 431 shares during the last quarter. Certified Advisory Corp lifted its stake in Bristol Myers Squibb by 7.5% during the first quarter. Certified Advisory Corp now owns 4,243 shares of the biopharmaceutical company's stock valued at $259,000 after purchasing an additional 297 shares during the last quarter. Finally, Alberta Investment Management Corp acquired a new stake in Bristol Myers Squibb during the first quarter valued at approximately $10,874,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Stock Up 2.6%

BMY traded up $1.16 during trading on Monday, reaching $45.39. The company had a trading volume of 14,656,292 shares, compared to its average volume of 13,625,376. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The business's fifty day moving average price is $47.51 and its 200 day moving average price is $52.23. The company has a market cap of $92.39 billion, a P/E ratio of 18.30, a PEG ratio of 2.33 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.39. The firm had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.07 earnings per share. Equities analysts anticipate 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 $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's payout ratio is currently 100.00%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BMY. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price target (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. William Blair reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Finally, UBS Group lowered their price objective on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $57.33.

About Bristol Myers Squibb

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.