Bristol Myers Squibb Company $BMY Stock Holdings Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in Bristol Myers Squibb Company (NYSE:BMY) by 20.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 16,658,390 shares of the biopharmaceutical company’s stock after selling 4,202,979 shares during the quarter. Bank of New York Mellon Corp’s holdings in Bristol Myers Squibb were worth $751,293,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Exchange Capital Management Inc. raised its holdings in shares of Bristol Myers Squibb by 0.4% during the second quarter. Exchange Capital Management Inc. now owns 54,893 shares of the biopharmaceutical company’s stock valued at $2,541,000 after buying an additional 220 shares during the last quarter. CVA Family Office LLC raised its stake in Bristol Myers Squibb by 2.6% during the 3rd quarter. CVA Family Office LLC now owns 8,959 shares of the biopharmaceutical company’s stock valued at $404,000 after acquiring an additional 223 shares in the last quarter. Parsons Capital Management Inc. RI boosted its position in Bristol Myers Squibb by 0.3% during the 2nd quarter. Parsons Capital Management Inc. RI now owns 78,105 shares of the biopharmaceutical company’s stock worth $3,615,000 after acquiring an additional 224 shares during the period. Richwood Investment Advisors LLC grew its stake in shares of Bristol Myers Squibb by 1.7% in the second quarter. Richwood Investment Advisors LLC now owns 13,303 shares of the biopharmaceutical company’s stock worth $616,000 after purchasing an additional 225 shares in the last quarter. Finally, Mccarter Private Wealth Services LLC increased its holdings in shares of Bristol Myers Squibb by 5.0% during the third quarter. Mccarter Private Wealth Services LLC now owns 4,931 shares of the biopharmaceutical company’s stock valued at $222,000 after purchasing an additional 235 shares during the period. Institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BMY. Morgan Stanley reaffirmed an “underweight” rating and issued a $37.00 price objective (up previously from $36.00) on shares of Bristol Myers Squibb in a report on Friday, December 12th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research note on Monday, November 3rd. Guggenheim reiterated a “buy” rating on shares of Bristol Myers Squibb in a research note on Tuesday, December 23rd. Citigroup reissued a “neutral” rating and set a $60.00 target price (up previously from $53.00) on shares of Bristol Myers Squibb in a report on Tuesday. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $60.00 price target (up from $53.00) on shares of Bristol Myers Squibb in a research note on Friday, January 9th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $57.43.

Bristol Myers Squibb Trading Down 1.6%

Shares of NYSE:BMY opened at $54.66 on Thursday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.17 and a current ratio of 1.27. The stock has a market capitalization of $111.26 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 0.17 and a beta of 0.29. Bristol Myers Squibb Company has a 1-year low of $42.52 and a 1-year high of $63.33. The company has a 50 day moving average price of $53.07 and a 200 day moving average price of $48.55.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.11. The business had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.75 billion. Bristol Myers Squibb had a return on equity of 76.53% and a net margin of 12.57%.The company’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $1.80 EPS. On average, research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.52 dividend on an annualized basis and a yield of 4.6%. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. Bristol Myers Squibb’s dividend payout ratio (DPR) is 85.14%.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.