Premier Fund Managers Ltd Sells 27,100 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Premier Fund Managers Ltd reduced its stake in Bristol Myers Squibb by 14.5%, owning 159,200 shares worth approximately $9.55 million after selling 27,100 shares in the first quarter.
• Several institutional investors, including Capital International Investors and Ameriprise Financial Inc., have recently increased their positions in Bristol Myers Squibb, indicating continued confidence in the biopharmaceutical company.
• Bristol Myers Squibb declared a quarterly dividend of $0.62, representing an annualized dividend of $2.48 with a yield of 5.22%, amidst a current dividend payout ratio of 92.88%.

Premier Fund Managers Ltd trimmed its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 14.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,200 shares of the biopharmaceutical company's stock after selling 27,100 shares during the period. Premier Fund Managers Ltd's holdings in Bristol Myers Squibb were worth $9,554,000 at the end of the most recent quarter.

A number of other institutional investors 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 valued at approximately $25,000. Park Square Financial Group LLC acquired a new stake in Bristol Myers Squibb during the fourth quarter valued at approximately $26,000. Transce3nd LLC acquired a new stake in Bristol Myers Squibb during the fourth quarter valued at approximately $28,000. Global Wealth Strategies & Associates boosted its holdings in Bristol Myers Squibb by 137.5% during the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 275 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Bristol Myers Squibb during the first quarter valued at approximately $31,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Trading Down 1.4%

Shares of Bristol Myers Squibb stock traded down $0.66 on Tuesday, hitting $46.85. 11,261,704 shares of the company's stock traded hands, compared to its average volume of 11,210,511. The firm's 50-day moving average price is $47.65 and its two-hundred day moving average price is $52.49. The stock has a market capitalization of $95.35 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 2.50 and a beta of 0.36. Bristol Myers Squibb Company has a one year low of $44.00 and a one year high of $63.33. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is currently 92.88%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BMY shares. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Jefferies Financial Group cut their target price on shares of 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. The Goldman Sachs Group reiterated a "neutral" rating and issued a $55.00 target price (down previously from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Finally, William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $58.53.

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.