Sumitomo Mitsui Trust Holdings Inc. Buys 172,769 Shares of Bristol-Myers Squibb (NYSE:BMY)

Sumitomo Mitsui Trust Holdings Inc. raised its stake in Bristol-Myers Squibb (NYSE:BMY) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,594,092 shares of the biopharmaceutical company’s stock after buying an additional 172,769 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.27% of Bristol-Myers Squibb worth $287,033,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $1,873,696,000. Northern Trust Corp boosted its position in shares of Bristol-Myers Squibb by 5.8% during the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock valued at $1,467,989,000 after purchasing an additional 1,394,158 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 114,228.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock valued at $1,544,751,000 after purchasing an additional 21,451,006 shares in the last quarter. Invesco Ltd. raised its stake in Bristol-Myers Squibb by 8.6% during the 3rd quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after buying an additional 1,240,902 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Bristol-Myers Squibb by 1.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 11,005,473 shares of the biopharmaceutical company’s stock worth $803,730,000 after buying an additional 197,000 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $48.28 on Monday. The business’s fifty day moving average price is $51.28 and its 200-day moving average price is $51.75. The stock has a market capitalization of $97.85 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.78 and a beta of 0.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. Bristol-Myers Squibb has a 1-year low of $47.58 and a 1-year high of $70.93.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.15. The firm had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.82 EPS. On average, equities analysts predict that Bristol-Myers Squibb will post 5.41 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.97%. Bristol-Myers Squibb’s payout ratio is presently 62.18%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BMY. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Wells Fargo & Company lowered their price objective on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 6th. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock 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.