Dakota Wealth Management Cuts Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Dakota Wealth Management cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,521 shares of the biopharmaceutical company’s stock after selling 1,644 shares during the period. Dakota Wealth Management’s holdings in Bristol-Myers Squibb were worth $2,821,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital International Investors increased its stake in shares of Bristol-Myers Squibb by 14.1% during the first 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 during the period. M&G Plc purchased a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at approximately $392,608,000. Pzena Investment Management LLC raised its holdings in shares of Bristol-Myers Squibb by 119.8% in the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock valued at $666,699,000 after purchasing an additional 6,701,097 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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 worth $680,469,000 after purchasing an additional 5,461,767 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Bristol-Myers Squibb by 97.2% during the first quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock worth $431,084,000 after purchasing an additional 3,918,234 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $51.92 on Friday. The company has a market cap of $105.25 billion, a P/E ratio of -16.75, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $55.29. The business has a fifty day moving average of $50.75 and a two-hundred day moving average of $46.41. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion for the quarter, compared to analysts’ expectations 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 company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.75 EPS. As a group, analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BMY shares. Jefferies Financial Group lifted their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. UBS Group upped their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Citigroup downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $75.00 to $55.00 in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft dropped 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 report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.31.

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.