Private Wealth Partners LLC Sells 300 Shares of Bristol-Myers Squibb (NYSE:BMY)

Private Wealth Partners LLC lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,810 shares of the biopharmaceutical company’s stock after selling 300 shares during the quarter. Private Wealth Partners LLC’s holdings in Bristol-Myers Squibb were worth $532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of BMY. Norges Bank bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $1,560,524,000. Capital International Investors increased its holdings in Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after buying an additional 8,675,322 shares during the period. M&G Plc bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth about $392,608,000. Pzena Investment Management LLC increased its position in shares of Bristol-Myers Squibb by 119.8% during the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock worth $666,699,000 after purchasing an additional 6,701,097 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position 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 purchasing an additional 5,461,767 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of recent analyst reports. TD Cowen increased their target price on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Jefferies Financial Group increased their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Cantor Fitzgerald reiterated a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Barclays raised their price objective on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $54.67.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $48.59 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.01. The company has a market capitalization of $98.50 billion, a PE ratio of -15.67, a price-to-earnings-growth ratio of 12.62 and a beta of 0.46. The firm’s 50 day moving average is $46.44 and its 200-day moving average is $46.53.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $1.75 earnings per share. Equities research analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.94%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.