TCW Group Inc. Sells 7,155 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• TCW Group Inc. reduced its stake in Bristol Myers Squibb by 19.2%, selling 7,155 shares, leaving it with 30,184 shares valued at approximately $1.84 million.
• Multiple institutional investors have significantly increased their stakes in Bristol Myers Squibb, with increases of up to 3,880% noted in some cases during the fourth quarter.
• Bristol Myers Squibb's stock has seen a 1.4% decline recently, bringing its trading price to $46.85, with analysts maintaining a mixed outlook and an average target price of $58.53.

TCW Group Inc. cut its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 19.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,184 shares of the biopharmaceutical company's stock after selling 7,155 shares during the quarter. TCW Group Inc.'s holdings in Bristol Myers Squibb were worth $1,841,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Ameriprise Financial Inc. increased its stake in shares of Bristol Myers Squibb by 59.9% in the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after buying an additional 12,011,983 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Bristol Myers Squibb by 701.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock worth $705,309,000 after buying an additional 10,913,708 shares during the period. Wellington Management Group LLP increased its position in Bristol Myers Squibb by 3,880.0% during the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock valued at $338,088,000 after purchasing an additional 5,827,317 shares during the period. Northern Trust Corp increased its position in Bristol Myers Squibb by 16.2% during the 4th quarter. Northern Trust Corp now owns 24,658,360 shares of the biopharmaceutical company's stock valued at $1,394,677,000 after purchasing an additional 3,431,248 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its position in Bristol Myers Squibb by 72.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 7,769,227 shares of the biopharmaceutical company's stock valued at $439,427,000 after purchasing an additional 3,275,061 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BMY shares. The Goldman Sachs Group reissued a "neutral" rating and set a $55.00 price objective (down from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. UBS Group reduced their price objective on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Morgan Stanley reduced their price objective on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating on the stock in a research report on Thursday, July 10th. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $58.53.

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. 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 50-day moving average price of $47.65 and a two-hundred day moving average price of $52.49. 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 declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's payout ratio is 92.88%.

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.