Homestead Advisers Corp Sells 539,800 Shares of Bristol Myers Squibb Company $BMY

Homestead Advisers Corp lowered its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 56.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 424,389 shares of the biopharmaceutical company’s stock after selling 539,800 shares during the quarter. Homestead Advisers Corp’s holdings in Bristol Myers Squibb were worth $19,140,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. RMR Wealth Builders grew its stake in Bristol Myers Squibb by 11.0% in the 3rd quarter. RMR Wealth Builders now owns 4,808 shares of the biopharmaceutical company’s stock valued at $217,000 after buying an additional 477 shares in the last quarter. Portside Wealth Group LLC boosted its holdings in shares of Bristol Myers Squibb by 15.2% in the third quarter. Portside Wealth Group LLC now owns 21,712 shares of the biopharmaceutical company’s stock worth $979,000 after acquiring an additional 2,860 shares during the period. HORAN Wealth LLC purchased a new position in shares of Bristol Myers Squibb in the third quarter valued at $454,000. Bessemer Group Inc. raised its stake in shares of Bristol Myers Squibb by 7.6% during the 3rd quarter. Bessemer Group Inc. now owns 64,027 shares of the biopharmaceutical company’s stock valued at $2,888,000 after purchasing an additional 4,507 shares during the period. Finally, Cullen Capital Management LLC lifted its holdings in Bristol Myers Squibb by 6.3% during the 3rd quarter. Cullen Capital Management LLC now owns 1,340,847 shares of the biopharmaceutical company’s stock worth $60,472,000 after purchasing an additional 79,777 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $57.70 on Thursday. The company’s fifty day moving average price is $53.88 and its 200-day moving average price is $48.85. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.27 and a quick ratio of 1.17. The firm has a market capitalization of $117.46 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 0.17 and a beta of 0.29. Bristol Myers Squibb Company has a one year low of $42.52 and a one year high of $63.33.

Bristol Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Friday, January 2nd were given a dividend of $0.63 per share. The ex-dividend date was Friday, January 2nd. This is a positive change from Bristol Myers Squibb’s previous quarterly dividend of $0.62. This represents a $2.52 dividend on an annualized basis and a yield of 4.4%. Bristol Myers Squibb’s dividend payout ratio (DPR) is 85.14%.

Analyst Ratings Changes

BMY has been the subject of a number of recent analyst reports. Bank of America raised Bristol Myers Squibb from a “neutral” rating to a “buy” rating and lifted their target price for the company from $52.00 to $61.00 in a report on Monday, December 15th. Scotiabank reaffirmed a “sector perform” rating and set a $60.00 price objective (up previously from $53.00) on shares of Bristol Myers Squibb in a research note on Friday, January 9th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a report on Monday, November 3rd. Cantor Fitzgerald restated a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, November 24th. Finally, UBS Group upgraded Bristol Myers Squibb from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $65.00 in a research report on Wednesday, January 7th. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $57.43.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late?stage pipeline reflect a strong emphasis on cancer and immune?mediated conditions.