Pallas Capital Advisors LLC Reduces Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Pallas Capital Advisors LLC lessened its holdings in Bristol-Myers Squibb (NYSE:BMYFree Report) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,701 shares of the biopharmaceutical company’s stock after selling 207 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Bristol-Myers Squibb were worth $344,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. State Street Corp increased its holdings in Bristol-Myers Squibb by 0.9% in the second quarter. State Street Corp now owns 92,570,288 shares of the biopharmaceutical company’s stock valued at $5,919,870,000 after buying an additional 858,922 shares during the last quarter. Norges Bank purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter worth about $1,873,696,000. Northern Trust Corp grew its holdings in shares of Bristol-Myers Squibb by 5.8% during the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after purchasing an additional 1,394,158 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 114,228.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock worth $1,544,751,000 after purchasing an additional 21,451,006 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Bristol-Myers Squibb by 8.6% during the third quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after purchasing an additional 1,240,902 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

BMY stock opened at $52.75 on Wednesday. The firm has a 50 day moving average of $51.03 and a 200-day moving average of $52.25. Bristol-Myers Squibb has a 12-month low of $47.58 and a 12-month high of $71.07. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The company has a market cap of $106.91 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.64 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last posted its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. During the same period last year, the firm earned $1.82 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities analysts expect that Bristol-Myers Squibb will post 6.61 EPS for the current fiscal year.

Bristol-Myers Squibb declared that its Board of Directors has authorized a share buyback program on Thursday, December 7th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the biopharmaceutical company to purchase up to 2.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.55%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 62.18%.

Analyst Ratings Changes

Several brokerages have issued reports on BMY. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average target price of $61.12.

View Our Latest Research Report on BMY

Bristol-Myers Squibb Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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