Rhumbline Advisers Sells 31,175 Shares of Bristol-Myers Squibb (NYSE:BMY)

Rhumbline Advisers trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,654,234 shares of the biopharmaceutical company’s stock after selling 31,175 shares during the period. Rhumbline Advisers owned approximately 0.18% of Bristol-Myers Squibb worth $206,683,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BMY. Contravisory Investment Management Inc. purchased a new position in Bristol-Myers Squibb during the 4th quarter worth $488,000. Inspire Trust Co. N.A. boosted its holdings in Bristol-Myers Squibb by 39.0% in the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock worth $5,355,000 after acquiring an additional 29,044 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 206 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its position in shares of Bristol-Myers Squibb by 34.3% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock valued at $2,305,000 after purchasing an additional 11,387 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its stake in Bristol-Myers Squibb by 81.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock worth $3,972,000 after purchasing an additional 34,418 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BMY. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Morgan Stanley boosted their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Citigroup lifted their target price on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Wolfe Research initiated coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $57.86.

Bristol-Myers Squibb Price Performance

NYSE:BMY opened at $53.85 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10. The stock’s 50-day moving average price is $57.32 and its 200-day moving average price is $54.03. The stock has a market capitalization of $109.22 billion, a PE ratio of -12.18, a price-to-earnings-growth ratio of 2.13 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.81% and a negative net margin of 18.53%. As a group, equities analysts expect that Bristol-Myers Squibb will post 6.75 EPS for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.61%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -56.11%.

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.