TIAA Trust National Association Has $6.23 Million Position in Bristol-Myers Squibb (NYSE:BMY)

TIAA Trust National Association lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,419 shares of the biopharmaceutical company’s stock after selling 16,808 shares during the quarter. TIAA Trust National Association’s holdings in Bristol-Myers Squibb were worth $6,230,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. State Street Corp grew its position in Bristol-Myers Squibb by 0.9% during the second quarter. State Street Corp now owns 92,570,288 shares of the biopharmaceutical company’s stock worth $5,919,870,000 after buying an additional 858,922 shares in the last quarter. Norges Bank acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $1,873,696,000. Northern Trust Corp grew 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 worth $1,467,989,000 after buying an additional 1,394,158 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in Bristol-Myers Squibb by 114,228.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock worth $1,544,751,000 after buying an additional 21,451,006 shares in the last quarter. Finally, Invesco Ltd. grew its position in Bristol-Myers Squibb by 8.6% during the third quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after buying an additional 1,240,902 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.5 %

Shares of NYSE:BMY opened at $52.75 on Wednesday. The firm has a market cap of $106.91 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.64 and a beta of 0.39. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a 12-month low of $47.58 and a 12-month high of $71.07. The business has a fifty day simple moving average of $51.03 and a 200 day simple moving average of $52.25.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last announced its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.15. The business had revenue of $11.48 billion during the quarter, compared to analyst estimates of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. Bristol-Myers Squibb’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the company earned $1.82 EPS. Analysts predict that Bristol-Myers Squibb will post 6.61 earnings per share for the current year.

Bristol-Myers Squibb declared that its board has authorized a stock buyback program on Thursday, December 7th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently 62.18%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Wells Fargo & Company reduced their target price on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 6th. Finally, Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.12.

Get Our Latest Analysis on Bristol-Myers Squibb

Bristol-Myers Squibb Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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