Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Webster Bank N. A.

Webster Bank N. A. cut its stake in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 0.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 26,744 shares of the biopharmaceutical company’s stock after selling 224 shares during the period. Webster Bank N. A.’s holdings in Bristol-Myers Squibb were worth $1,372,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Dakota Wealth Management acquired a new position in shares of Bristol-Myers Squibb in the first quarter valued at approximately $332,000. Covestor Ltd grew its holdings in shares of Bristol-Myers Squibb by 111.5% in the first quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 1,082 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 53.2% in the first quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after purchasing an additional 57,444 shares in the last quarter. Ergoteles LLC acquired a new position in shares of Bristol-Myers Squibb in the first quarter valued at approximately $1,997,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Bristol-Myers Squibb by 25.1% in the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after purchasing an additional 68,018 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BMY shares. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. Wells Fargo & Company decreased their price target on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 6th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.12.

Read Our Latest Report on Bristol-Myers Squibb

Bristol-Myers Squibb Stock Down 1.0 %

BMY stock opened at $52.19 on Thursday. The company has a fifty day moving average price of $51.12 and a 200 day moving average price of $52.21. Bristol-Myers Squibb has a 12 month low of $47.58 and a 12 month high of $71.07. The company has a market cap of $105.78 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 1.60 and a beta of 0.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last released its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. Bristol-Myers Squibb’s revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts expect that Bristol-Myers Squibb will post 6.61 earnings per share for the current year.

Bristol-Myers Squibb announced that its board has approved a stock repurchase plan on Thursday, December 7th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 4.60%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 62.18%.

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

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb (NYSE:BMYFree Report).

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

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