New England Asset Management Inc. Trims Holdings in Bristol-Myers Squibb (NYSE:BMY)

New England Asset Management Inc. reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 16.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 39,171 shares of the biopharmaceutical company's stock after selling 7,600 shares during the period. New England Asset Management Inc.'s holdings in Bristol-Myers Squibb were worth $2,216,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Bristol-Myers Squibb by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 189,944,516 shares of the biopharmaceutical company's stock worth $10,743,262,000 after acquiring an additional 1,373,209 shares during the last quarter. Capital International Investors increased its holdings in Bristol-Myers Squibb by 7.5% in the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock worth $2,593,940,000 after buying an additional 3,218,865 shares in the last quarter. Geode Capital Management LLC raised its position in Bristol-Myers Squibb by 2.7% in 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 buying an additional 1,187,231 shares during the last quarter. Norges Bank purchased a new position in Bristol-Myers Squibb in the 4th quarter worth about $1,989,525,000. Finally, Ameriprise Financial Inc. raised its position in Bristol-Myers Squibb by 59.9% in the 4th 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 last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Up 2.1%

Shares of BMY traded up $0.96 during midday trading on Friday, reaching $46.77. 12,103,063 shares of the stock were exchanged, compared to its average volume of 13,242,296. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90. The company's 50 day moving average is $53.35 and its two-hundred day moving average is $56.01. The company has a market capitalization of $95.18 billion, a P/E ratio of -10.58, a PEG ratio of 2.07 and a beta of 0.39. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.30. The firm had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. The firm's quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the company posted ($4.40) earnings per share. On average, sell-side analysts anticipate that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 4th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date was Friday, April 4th. Bristol-Myers Squibb's payout ratio is currently 92.88%.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 4,250 shares of the business's stock in a transaction on Friday, April 25th. The shares were acquired at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the purchase, the executive vice president now owns 83,513 shares of the company's stock, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BMY. Cantor Fitzgerald reissued a "neutral" rating and issued a $55.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, April 22nd. Argus raised Bristol-Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Wells Fargo & Company boosted their target price on Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Jefferies Financial Group cut their price target on 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. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $55.00 price target (down from $67.00) on shares of Bristol-Myers Squibb in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $58.00.

Bristol-Myers Squibb Company 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.