Atlas Brown Inc. reduced its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 27.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 8,258 shares of the biopharmaceutical company’s stock after selling 3,198 shares during the period. Atlas Brown Inc.’s holdings in Bristol-Myers Squibb were worth $513,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Principal Financial Group Inc. boosted its stake in shares of Bristol-Myers Squibb by 7.9% during the 1st quarter. Principal Financial Group Inc. now owns 3,094,134 shares of the biopharmaceutical company’s stock worth $195,704,000 after purchasing an additional 225,999 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth about $179,000. Cardinal Capital Management Inc. acquired a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth about $642,000. First Financial Bank Trust Division boosted its stake in shares of Bristol-Myers Squibb by 53.9% during the 2nd quarter. First Financial Bank Trust Division now owns 27,792 shares of the biopharmaceutical company’s stock worth $1,538,000 after purchasing an additional 9,733 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake in shares of Bristol-Myers Squibb by 2.7% during the 2nd quarter. Gulf International Bank UK Ltd now owns 529,263 shares of the biopharmaceutical company’s stock worth $29,289,000 after purchasing an additional 13,750 shares during the last quarter. 72.38% of the stock is owned by hedge funds and other institutional investors.
Shares of BMY stock traded up $1.69 during trading hours on Friday, hitting $50.90. 6,839,257 shares of the company were exchanged, compared to its average volume of 7,630,496. Bristol-Myers Squibb Co has a 1 year low of $46.94 and a 1 year high of $70.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.40 and a quick ratio of 1.28. The firm has a market cap of $83.17 billion, a P/E ratio of 16.91, a PEG ratio of 1.36 and a beta of 0.98.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Friday, October 5th will be issued a $0.40 dividend. The ex-dividend date is Thursday, October 4th. This represents a $1.60 annualized dividend and a yield of 3.14%. Bristol-Myers Squibb’s payout ratio is 53.16%.
Several equities research analysts have issued reports on the stock. BMO Capital Markets decreased their price target on shares of Bristol-Myers Squibb from $57.00 to $54.00 and set a “market perform” rating on the stock in a research note on Tuesday. Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a research note on Tuesday. They set an “outperform” rating and a $66.00 price target on the stock. William Blair reaffirmed an “outperform” rating on shares of Bristol-Myers Squibb in a research note on Monday. Citigroup lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $62.00 to $57.00 in a report on Monday. Finally, ValuEngine lowered shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $62.29.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
See Also: How accurate is the Rule of 72?
Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.