Bristol-Myers Squibb (NYSE:BMY) Position Reduced by Foster & Motley Inc.

Foster & Motley Inc. trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 22.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,112 shares of the biopharmaceutical company’s stock after selling 9,981 shares during the quarter. Foster & Motley Inc.’s holdings in Bristol-Myers Squibb were worth $1,750,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Northern Trust Corp lifted its position in shares of Bristol-Myers Squibb by 5.8% in the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after buying an additional 1,394,158 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Bristol-Myers Squibb by 8.6% in the 3rd quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after acquiring an additional 1,240,902 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Bristol-Myers Squibb by 48.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after acquiring an additional 2,540,360 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Bristol-Myers Squibb by 3.2% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,594,092 shares of the biopharmaceutical company’s stock worth $287,033,000 after acquiring an additional 172,769 shares during the period. Finally, Pzena Investment Management LLC increased its holdings in shares of Bristol-Myers Squibb by 13.8% in the 3rd quarter. Pzena Investment Management LLC now owns 4,924,194 shares of the biopharmaceutical company’s stock worth $285,800,000 after acquiring an additional 596,625 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BMY shares. Wells Fargo & Company increased their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. 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. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.18.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $49.27 on Tuesday. Bristol-Myers Squibb has a 12-month low of $47.58 and a 12-month high of $70.93. The firm’s 50 day moving average is $51.22 and its 200-day moving average is $51.38. The stock has a market capitalization of $99.86 billion, a P/E ratio of 12.73, a P/E/G ratio of 1.48 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 (NYSE:BMY) last announced its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same period last year, the company posted $1.82 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts anticipate that Bristol-Myers Squibb will post 6.63 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is 62.18%.

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.