TD Asset Management Inc Has $94.94 Million Stock Position in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• TD Asset Management Inc reduced its holdings in Bristol Myers Squibb by 0.7%, selling 10,367 shares, and now owns 1,556,639 shares valued at $94.9 million.
• The company reported $1.80 earnings per share for the latest quarter, surpassing analyst expectations of $1.50 and generating revenue of $11.20 billion.
• Bristol Myers Squibb's declared quarterly dividend of $0.62 per share translates to an annualized amount of $2.48, resulting in a dividend yield of 5.12%.

TD Asset Management Inc decreased its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,556,639 shares of the biopharmaceutical company's stock after selling 10,367 shares during the quarter. TD Asset Management Inc owned approximately 0.08% of Bristol Myers Squibb worth $94,939,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Capital International Investors increased its stake in shares of Bristol Myers Squibb by 7.5% during the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock worth $2,593,940,000 after purchasing an additional 3,218,865 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Bristol Myers Squibb by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company's stock worth $2,505,967,000 after purchasing an additional 1,187,231 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Bristol Myers Squibb by 59.9% during the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after purchasing an additional 12,011,983 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Bristol Myers Squibb by 8.6% during the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock worth $1,638,501,000 after purchasing an additional 2,131,205 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of 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 worth $1,394,677,000 after purchasing an additional 3,431,248 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of research analyst reports. Morgan Stanley lowered their target price on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating on the stock in a research note on Thursday, July 10th. William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $55.00 target price (down from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Finally, Jefferies Financial Group reduced their price target on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $58.53.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY traded down $0.18 during midday trading on Wednesday, reaching $46.68. 3,304,694 shares of the company's stock were exchanged, compared to its average volume of 13,223,447. The company's 50 day simple moving average is $47.65 and its two-hundred day simple moving average is $52.49. The firm has a market capitalization of $94.99 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 2.50 and a beta of 0.36. Bristol Myers Squibb Company has a 12 month low of $44.00 and a 12 month high of $63.33. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 92.88%.

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.