Carret Asset Management LLC Has $2.32 Million Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Carret Asset Management LLC cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,747 shares of the biopharmaceutical company’s stock after selling 870 shares during the period. Carret Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $2,315,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors raised its holdings in shares of Bristol-Myers Squibb by 14.1% during the 1st 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 in the last quarter. Norges Bank acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth $1,560,524,000. Primecap Management Co. CA raised its holdings in shares of Bristol-Myers Squibb by 14.6% during the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after buying an additional 2,998,228 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Bristol-Myers Squibb by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock worth $870,198,000 after buying an additional 1,246,066 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings 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 buying an additional 5,461,767 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Up 0.5 %

BMY stock traded up $0.23 during trading on Monday, reaching $49.95. 9,594,700 shares of the stock were exchanged, compared to its average volume of 15,441,346. The firm’s 50 day moving average is $45.17 and its 200 day moving average is $46.56. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.03. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The firm has a market cap of $101.25 billion, a P/E ratio of -16.11, a price-to-earnings-growth ratio of 12.92 and a beta of 0.44.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analysts Set New Price Targets

A number of research firms have recently commented on BMY. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Jefferies Financial Group upped their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Barclays upped their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $54.67.

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.