Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 13,855 Shares of Bristol-Myers Squibb (NYSE:BMY)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 29.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,961 shares of the biopharmaceutical company’s stock after selling 13,855 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Bristol-Myers Squibb were worth $1,611,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Northern Trust Corp boosted its position in Bristol-Myers Squibb by 5.8% in the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock valued at $1,467,989,000 after buying an additional 1,394,158 shares during the last quarter. Invesco Ltd. boosted its position in shares of Bristol-Myers Squibb by 8.6% in the 3rd quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after purchasing an additional 1,240,902 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Bristol-Myers Squibb by 48.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after purchasing an additional 2,540,360 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Bristol-Myers Squibb by 3.2% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,594,092 shares of the biopharmaceutical company’s stock worth $287,033,000 after purchasing an additional 172,769 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its position in shares of Bristol-Myers Squibb by 13.8% in the 3rd quarter. Pzena Investment Management LLC now owns 4,924,194 shares of the biopharmaceutical company’s stock worth $285,800,000 after purchasing an additional 596,625 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on BMY. Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Finally, StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $61.18.

Bristol-Myers Squibb Trading Up 0.2 %

Bristol-Myers Squibb stock traded up $0.12 during mid-day trading on Tuesday, hitting $49.26. The company’s stock had a trading volume of 3,521,191 shares, compared to its average volume of 15,450,691. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The stock has a market cap of $99.84 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.48 and a beta of 0.39. The business has a 50 day moving average price of $51.22 and a 200-day moving average price of $51.38. Bristol-Myers Squibb has a 12 month low of $47.58 and a 12 month high of $70.93.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share 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 the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.82 earnings per share. As a group, analysts forecast that Bristol-Myers Squibb will post 6.63 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is 62.18%.

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.