Mutual of America Capital Management LLC Reduces Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Mutual of America Capital Management LLC reduced its holdings in Bristol-Myers Squibb (NYSE:BMY) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 271,597 shares of the biopharmaceutical company’s stock after selling 12,194 shares during the period. Mutual of America Capital Management LLC’s holdings in Bristol-Myers Squibb were worth $11,279,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Axxcess Wealth Management LLC boosted its holdings in Bristol-Myers Squibb by 4.6% during the second quarter. Axxcess Wealth Management LLC now owns 76,958 shares of the biopharmaceutical company’s stock worth $3,196,000 after buying an additional 3,404 shares in the last quarter. Alpha Family Trust purchased a new stake in Bristol-Myers Squibb during the second quarter worth $387,000. Peregrine Asset Advisers Inc. boosted its holdings in Bristol-Myers Squibb by 46.7% during the second quarter. Peregrine Asset Advisers Inc. now owns 22,964 shares of the biopharmaceutical company’s stock worth $954,000 after buying an additional 7,310 shares in the last quarter. Primecap Management Co. CA boosted its holdings in Bristol-Myers Squibb by 1.0% during the second quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock worth $975,897,000 after buying an additional 225,197 shares in the last quarter. Finally, Excalibur Management Corp lifted its holdings in Bristol-Myers Squibb by 24.4% during the second quarter. Excalibur Management Corp now owns 31,641 shares of the biopharmaceutical company’s stock valued at $1,314,000 after purchasing an additional 6,199 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BMY has been the topic of several recent analyst reports. Jefferies Financial Group increased their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. TD Cowen increased their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Monday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $49.74 on Thursday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $59.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The firm’s 50-day simple moving average is $47.34 and its 200 day simple moving average is $46.48. The firm has a market capitalization of $100.83 billion, a PE ratio of -16.05, a P/E/G ratio of 12.59 and a beta of 0.46.

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

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

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.