Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 15.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 249,206 shares of the biopharmaceutical company’s stock after selling 45,855 shares during the period. Alaska Permanent Fund Corp’s holdings in Bristol-Myers Squibb were worth $12,787,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Institute for Wealth Management LLC. lifted its holdings in Bristol-Myers Squibb by 1.0% in the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock worth $1,542,000 after buying an additional 296 shares in the last quarter. Herold Advisors Inc. lifted its position in shares of Bristol-Myers Squibb by 3.2% during the third quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock worth $1,954,000 after purchasing an additional 1,051 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in shares of Bristol-Myers Squibb by 9.5% during the third quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock worth $8,115,000 after purchasing an additional 12,121 shares during the last quarter. Metis Global Partners LLC raised its stake in Bristol-Myers Squibb by 14.8% during the third quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock worth $5,907,000 after acquiring an additional 13,122 shares during the period. Finally, Jmac Enterprises LLC raised its stake in Bristol-Myers Squibb by 11.4% during the third quarter. Jmac Enterprises LLC now owns 12,171 shares of the biopharmaceutical company’s stock worth $706,000 after acquiring an additional 1,245 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Down 5.2 %

Shares of Bristol-Myers Squibb stock traded down $2.55 during midday trading on Thursday, reaching $46.31. 3,224,143 shares of the company’s stock traded hands, compared to its average volume of 15,351,132. The company has a market cap of $93.86 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.48 and a beta of 0.39. The company’s 50 day simple moving average is $51.22 and its 200 day simple moving average is $51.31. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. Bristol-Myers Squibb has a 52 week low of $46.13 and a 52 week high of $69.74.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, beating analysts’ consensus estimates of ($4.50) by $0.10. The firm had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 earnings per share. Equities analysts expect that Bristol-Myers Squibb will post 6.63 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.18%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is 62.18%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Wells Fargo & Company raised 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 report on Thursday, April 18th. Finally, William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $61.18.

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.