First Citizens Bank & Trust Co. Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

First Citizens Bank & Trust Co. reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 117,477 shares of the biopharmaceutical company’s stock after selling 370 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Bristol-Myers Squibb were worth $6,078,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Capital International Investors increased its position in shares of Bristol-Myers Squibb by 14.1% during the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after acquiring an additional 8,675,322 shares during the period. M&G Plc purchased a new position in Bristol-Myers Squibb during the 1st quarter worth $392,608,000. Pzena Investment Management LLC grew 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 buying an additional 6,701,097 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Bristol-Myers Squibb by 77.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after purchasing an additional 5,461,767 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Bristol-Myers Squibb by 97.2% in the first quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock worth $431,084,000 after buying an additional 3,918,234 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $53.23 on Friday. The business’s 50 day moving average price is $50.36 and its 200-day moving average price is $46.42. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $57.09. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The firm has a market capitalization of $107.90 billion, a PE ratio of -17.17, a P/E/G ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.75 EPS. As a group, equities research analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.51%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BMY shares. Jefferies Financial Group boosted their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Barclays lifted their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. TD Cowen boosted their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. UBS Group boosted their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $53.20.

About Bristol-Myers Squibb

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.