Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 22.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 6,636 shares of the biopharmaceutical company’s stock after selling 1,939 shares during the period. Drive Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $276,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BMY. Capital International Investors lifted its holdings in Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after buying an additional 8,675,322 shares in the last quarter. Norges Bank acquired a new stake in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $1,560,524,000. Primecap Management Co. CA raised its holdings in Bristol-Myers Squibb by 14.6% in the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after acquiring an additional 2,998,228 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Bristol-Myers Squibb by 7.9% during the 4th 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in 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 during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Barclays upped their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Jefferies Financial Group increased their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, TD Cowen raised their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.67.

Bristol-Myers Squibb Trading Up 0.5 %

Bristol-Myers Squibb stock opened at $49.95 on Monday. The firm has a 50-day moving average price of $45.17 and a two-hundred day moving average price of $46.56. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.03. The firm has a market capitalization of $101.25 billion, a price-to-earnings ratio of -16.11, a PEG ratio of 12.92 and a beta of 0.44. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.75 EPS. Sell-side analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 4.80%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Bristol-Myers Squibb 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.