OVERSEA CHINESE BANKING Corp Ltd Trims Stock Position in Bristol-Myers Squibb (NYSE:BMY)

OVERSEA CHINESE BANKING Corp Ltd cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 18.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,343 shares of the biopharmaceutical company’s stock after selling 969 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Bristol-Myers Squibb were worth $223,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. OFI Invest Asset Management bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth about $25,000. Milestone Investment Advisors LLC bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter worth approximately $27,000. Blue Bell Private Wealth Management LLC grew its stake in shares of Bristol-Myers Squibb by 61.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 200 shares during the last quarter. Legacy Financial Group LLC purchased a new position in Bristol-Myers Squibb during the third quarter valued at $39,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter worth $40,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $49.14 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The company has a market capitalization of $99.59 billion, a PE ratio of 12.73, a P/E/G ratio of 1.48 and a beta of 0.39. The company has a 50 day moving average price of $51.22 and a 200-day moving average price of $51.38. Bristol-Myers Squibb has a fifty-two week low of $47.58 and a fifty-two week high of $70.93.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the prior year, the company earned $1.82 EPS. The business’s revenue was up .6% compared to the same quarter last year. As a group, equities analysts forecast that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is 62.18%.

Analysts Set New Price Targets

Several brokerages recently commented on BMY. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Wells Fargo & Company lifted their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Finally, Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $61.18.

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.