State of Alaska Department of Revenue Sells 47,130 Shares of Bristol-Myers Squibb (NYSE:BMY)

State of Alaska Department of Revenue cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 8.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 502,222 shares of the biopharmaceutical company’s stock after selling 47,130 shares during the quarter. State of Alaska Department of Revenue’s holdings in Bristol-Myers Squibb were worth $27,235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BMY. Northwest Financial Advisors bought a new position in Bristol-Myers Squibb in the fourth quarter valued at approximately $27,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $34,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $40,000. Wetzel Investment Advisors Inc. bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $40,000. Finally, Fairman Group LLC bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth $42,000. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY traded down $0.39 during midday trading on Wednesday, hitting $40.06. The stock had a trading volume of 9,124,530 shares, compared to its average volume of 15,749,291. The company’s 50-day moving average price is $42.64 and its 200-day moving average price is $47.97. The company has a market capitalization of $81.21 billion, a P/E ratio of -12.92, a price-to-earnings-growth ratio of 14.21 and a beta of 0.44. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. Bristol-Myers Squibb has a fifty-two week low of $39.63 and a fifty-two week high of $65.38.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.05 EPS. As a group, equities research analysts predict that Bristol-Myers Squibb will post 0.58 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.99%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BMY. Wells Fargo & Company lifted their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. BMO Capital Markets lowered their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. Finally, Barclays lowered their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $60.00.

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.