Amalgamated Bank Lowers Position in Bristol-Myers Squibb (NYSE:BMY)

Amalgamated Bank reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.8% during the fourth quarter, Holdings Channel reports. The firm owned 494,321 shares of the biopharmaceutical company’s stock after selling 36,084 shares during the period. Amalgamated Bank’s holdings in Bristol-Myers Squibb were worth $25,364,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Van ECK Associates Corp increased its holdings in shares of Bristol-Myers Squibb by 792.6% in the 4th quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock worth $206,828,000 after buying an additional 3,579,324 shares during the last quarter. Pacer Advisors Inc. boosted its position in Bristol-Myers Squibb by 48.0% during the fourth quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after buying an additional 2,540,360 shares during the period. AustralianSuper Pty Ltd bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $86,965,000. Mizuho Markets Americas LLC purchased a new position in shares of Bristol-Myers Squibb in the third quarter worth about $82,405,000. Finally, Northern Trust Corp boosted its holdings in Bristol-Myers Squibb by 5.8% during 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 acquiring an additional 1,394,158 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. BMO Capital Markets cut their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, Barclays dropped their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Stock Down 1.2 %

Shares of BMY stock traded down $0.51 during trading hours on Thursday, reaching $43.70. 15,896,448 shares of the company’s stock were exchanged, compared to its average volume of 15,961,298. The stock has a market cap of $88.58 billion, a PE ratio of -14.15, a PEG ratio of 14.70 and a beta of 0.45. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The stock’s fifty day moving average price is $50.67 and its two-hundred day moving average price is $50.89. Bristol-Myers Squibb has a 1 year low of $43.33 and a 1 year high of $69.10.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $2.05 earnings per share. Research analysts predict that Bristol-Myers Squibb will post 0.6 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

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.