Hartford Investment Management Co. Sells 6,661 Shares of Bristol-Myers Squibb (NYSE:BMY)

Hartford Investment Management Co. trimmed its holdings in Bristol-Myers Squibb (NYSE:BMYFree Report) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,960 shares of the biopharmaceutical company’s stock after selling 6,661 shares during the period. Hartford Investment Management Co.’s holdings in Bristol-Myers Squibb were worth $7,027,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. True Wealth Design LLC bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $26,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $31,000. Coppell Advisory Solutions LLC bought a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $28,000. Live Oak Investment Partners bought a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $33,000. Finally, OFI Invest Asset Management bought a new stake in Bristol-Myers Squibb in the third quarter worth $25,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE:BMY traded down $0.22 during midday trading on Wednesday, reaching $52.52. The stock had a trading volume of 4,221,995 shares, compared to its average volume of 16,455,184. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. The firm has a fifty day simple moving average of $51.08 and a two-hundred day simple moving average of $52.21. The stock has a market cap of $106.45 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.60 and a beta of 0.39. Bristol-Myers Squibb has a 12-month low of $47.58 and a 12-month high of $71.07.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last released its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating 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 company had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter last year, the company earned $1.82 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts expect that Bristol-Myers Squibb will post 6.61 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is currently 62.18%.

Bristol-Myers Squibb announced that its Board of Directors has approved a share repurchase plan on Thursday, December 7th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 1st. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, Wells Fargo & Company dropped their price target on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $61.12.

Check Out Our Latest Research Report on Bristol-Myers Squibb

Bristol-Myers Squibb 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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