Bristol-Myers Squibb (NYSE:BMY) Holdings Trimmed by MONECO Advisors LLC

MONECO Advisors LLC trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 32.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,512 shares of the biopharmaceutical company’s stock after selling 4,181 shares during the period. MONECO Advisors LLC’s holdings in Bristol-Myers Squibb were worth $440,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors grew its holdings in shares of Bristol-Myers Squibb by 14.1% during the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after acquiring an additional 8,675,322 shares in the last quarter. M&G Plc purchased a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at $392,608,000. Pzena Investment Management LLC grew its holdings in shares of Bristol-Myers Squibb by 119.8% during the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock valued at $666,699,000 after acquiring an additional 6,701,097 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Bristol-Myers Squibb by 77.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after acquiring an additional 5,461,767 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Bristol-Myers Squibb by 86.3% during the 2nd quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock valued at $313,398,000 after acquiring an additional 3,495,704 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $52.68 on Thursday. The firm’s 50-day moving average is $50.98 and its 200-day moving average is $46.48. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $55.03. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The company has a market cap of $106.79 billion, a price-to-earnings ratio of -16.99, a PEG ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.56%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Barclays lifted their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, UBS Group lifted their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $52.38.

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.