US Bancorp DE Cuts Holdings in Bristol-Myers Squibb (NYSE:BMY)

US Bancorp DE lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.1% during the 4th quarter, Holdings Channel reports. The fund owned 2,487,902 shares of the biopharmaceutical company’s stock after selling 191,438 shares during the period. US Bancorp DE’s holdings in Bristol-Myers Squibb were worth $127,654,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BMY. Norges Bank bought a new position in Bristol-Myers Squibb in the fourth quarter worth about $1,560,524,000. Northern Trust Corp lifted its position in Bristol-Myers Squibb by 5.8% during the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock valued at $1,467,989,000 after acquiring an additional 1,394,158 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Bristol-Myers Squibb by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock valued at $870,198,000 after acquiring an additional 1,246,066 shares in the last quarter. Invesco Ltd. grew its holdings in Bristol-Myers Squibb by 8.6% in the third quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after purchasing an additional 1,240,902 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Bristol-Myers Squibb by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,361,717 shares of the biopharmaceutical company’s stock worth $582,970,000 after purchasing an additional 134,815 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

BMY stock traded down $0.08 during midday trading on Friday, hitting $41.46. 7,526,292 shares of the stock traded hands, compared to its average volume of 15,421,185. Bristol-Myers Squibb has a 1-year low of $41.07 and a 1-year high of $66.46. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The stock’s fifty day simple moving average is $48.02 and its 200-day simple moving average is $49.74. The firm has a market cap of $84.04 billion, a P/E ratio of -13.30, a PEG ratio of 14.33 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $2.05 EPS. On average, analysts expect that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.79%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Analysts Set New Price Targets

Several brokerages recently weighed in on BMY. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Barclays decreased their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Finally, Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $60.00.

About Bristol-Myers Squibb

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.