Pettee Investors Inc. Has $506,000 Stock Position in Bristol Myers Squibb Company $BMY

Pettee Investors Inc. lessened its position in shares of Bristol Myers Squibb Company (NYSE:BMY) by 63.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 11,224 shares of the biopharmaceutical company’s stock after selling 19,190 shares during the quarter. Pettee Investors Inc.’s holdings in Bristol Myers Squibb were worth $506,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Bristol Myers Squibb by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 194,925,206 shares of the biopharmaceutical company’s stock valued at $9,023,088,000 after buying an additional 3,522,202 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Bristol Myers Squibb by 16.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock valued at $3,277,456,000 after acquiring an additional 10,195,775 shares during the period. Geode Capital Management LLC raised its position in Bristol Myers Squibb by 1.6% in the second quarter. Geode Capital Management LLC now owns 46,176,690 shares of the biopharmaceutical company’s stock worth $2,132,976,000 after purchasing an additional 723,459 shares in the last quarter. Norges Bank acquired a new position in Bristol Myers Squibb in the second quarter worth about $1,554,154,000. Finally, Ameriprise Financial Inc. lifted its stake in Bristol Myers Squibb by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 32,579,618 shares of the biopharmaceutical company’s stock worth $1,508,099,000 after purchasing an additional 432,158 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on BMY. UBS Group upgraded Bristol Myers Squibb from a “neutral” rating to a “buy” rating and upped their price objective for the company from $46.00 to $65.00 in a research note on Wednesday, January 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. HSBC reissued a “hold” rating and set a $53.00 price objective on shares of Bristol Myers Squibb in a report on Wednesday, December 10th. Wells Fargo & Company upped their target price on shares of Bristol Myers Squibb from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 10th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, November 17th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $57.43.

Bristol Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $55.85 on Tuesday. The business has a fifty day moving average of $53.58 and a 200-day moving average of $48.72. The firm has a market cap of $113.70 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 0.17 and a beta of 0.29. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.17 and a current ratio of 1.27. Bristol Myers Squibb Company has a twelve month low of $42.52 and a twelve month high of $63.33.

Bristol Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 4.5%. This is an increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, January 2nd. Bristol Myers Squibb’s payout ratio is currently 85.14%.

Bristol Myers Squibb Profile

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.