Forbes J M & Co. LLP Has $7.61 Million Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Forbes J M & Co. LLP trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,269 shares of the biopharmaceutical company’s stock after selling 5,590 shares during the period. Forbes J M & Co. LLP’s holdings in Bristol-Myers Squibb were worth $7,607,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Clearbridge Investments LLC lifted its position in Bristol-Myers Squibb by 0.4% during the third quarter. Clearbridge Investments LLC now owns 112,446 shares of the biopharmaceutical company’s stock worth $6,526,000 after acquiring an additional 459 shares during the last quarter. LPL Financial LLC lifted its position in Bristol-Myers Squibb by 4.6% during the third quarter. LPL Financial LLC now owns 2,026,052 shares of the biopharmaceutical company’s stock worth $117,592,000 after acquiring an additional 88,447 shares during the last quarter. Gallacher Capital Management LLC acquired a new stake in Bristol-Myers Squibb during the third quarter worth approximately $290,000. Syntax Advisors LLC lifted its position in Bristol-Myers Squibb by 7.3% during the third quarter. Syntax Advisors LLC now owns 3,808 shares of the biopharmaceutical company’s stock worth $221,000 after acquiring an additional 258 shares during the last quarter. Finally, Socorro Asset Management LP lifted its position in Bristol-Myers Squibb by 9.3% during the third quarter. Socorro Asset Management LP now owns 144,519 shares of the biopharmaceutical company’s stock worth $8,388,000 after acquiring an additional 12,291 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY traded up $0.89 during trading on Friday, hitting $41.93. 35,830,690 shares of the company were exchanged, compared to its average volume of 13,967,854. The company has a market capitalization of $85.00 billion, a P/E ratio of -13.53, a price-to-earnings-growth ratio of 13.89 and a beta of 0.43. Bristol-Myers Squibb has a 1-year low of $39.63 and a 1-year high of $65.85. The business’s 50 day moving average is $43.60 and its 200-day moving average is $48.43. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. Bristol-Myers Squibb’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 earnings per share. Equities analysts forecast that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a yield of 5.72%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Analyst Ratings Changes

BMY has been the topic of several recent research reports. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, June 17th. BMO Capital Markets lowered their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Barclays lowered their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $60.00.

Bristol-Myers Squibb Company 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.