Clearbridge Investments LLC Has $6.73 Million Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Clearbridge Investments LLC decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 124,180 shares of the biopharmaceutical company’s stock after selling 1,800 shares during the quarter. Clearbridge Investments LLC’s holdings in Bristol-Myers Squibb were worth $6,734,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth about $1,560,524,000. Primecap Management Co. CA grew its position in shares of Bristol-Myers Squibb by 14.6% during the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after buying an additional 2,998,228 shares during the period. Dimensional Fund Advisors LP boosted its stake in Bristol-Myers Squibb by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock worth $870,198,000 after acquiring an additional 1,246,066 shares during the last quarter. Pzena Investment Management LLC boosted its stake in 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 acquiring an additional 6,701,097 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Bristol-Myers Squibb by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,361,717 shares of the biopharmaceutical company’s stock valued at $582,970,000 after buying an additional 134,815 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 1.4 %

Shares of Bristol-Myers Squibb stock traded up $0.63 during midday trading on Thursday, reaching $45.29. 1,121,882 shares of the company’s stock traded hands, compared to its average volume of 15,625,283. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The company has a market cap of $91.81 billion, a PE ratio of -14.41, a price-to-earnings-growth ratio of 15.94 and a beta of 0.44. The stock has a 50 day moving average of $41.60 and a 200-day moving average of $46.84. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $63.89.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data 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 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%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.05 earnings per share. As a group, equities analysts expect that Bristol-Myers Squibb will post 0.54 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a $0.60 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a yield of 5.30%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Barclays reduced their target price on shares of Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday. Cantor Fitzgerald reissued a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a report on Monday. Finally, BMO Capital Markets lowered their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $57.73.

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.