Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,071 shares of the biopharmaceutical company’s stock after selling 1,370 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Bristol-Myers Squibb were worth $1,338,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new stake in Bristol-Myers Squibb during the 3rd quarter valued at $25,000. True Wealth Design LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth about $26,000. Milestone Investment Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth about $27,000. Coppell Advisory Solutions LLC acquired a new position in shares of Bristol-Myers Squibb in the 2nd quarter worth approximately $28,000. Finally, 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 purchasing an additional 200 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Down 1.7 %

BMY stock opened at $48.28 on Monday. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a twelve month low of $47.58 and a twelve month high of $70.93. The stock has a market capitalization of $97.85 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.78 and a beta of 0.39. The firm’s fifty day simple moving average is $51.28 and its two-hundred day simple moving average is $51.75.

Bristol-Myers Squibb (NYSE:BMY) last issued its 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. The firm had revenue of $11.48 billion during the quarter, compared to analyst estimates of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.82 earnings per share. As a group, analysts anticipate that Bristol-Myers Squibb will post 5.41 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.97%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 62.18%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company cut their price target on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock 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, April 1st. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Finally, Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $61.12.

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.