Mather Group LLC. Cuts Stake in Bristol-Myers Squibb (NYSE:BMY)

Mather Group LLC. cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 38.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,763 shares of the biopharmaceutical company’s stock after selling 9,899 shares during the quarter. Mather Group LLC.’s holdings in Bristol-Myers Squibb were worth $655,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Bristol-Myers Squibb during the fourth quarter valued at approximately $1,560,524,000. Capital International Investors lifted its holdings in shares of Bristol-Myers Squibb by 14.1% during 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 purchasing an additional 8,675,322 shares during the last quarter. M&G Plc acquired a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth $392,608,000. Pzena Investment Management LLC grew 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 buying an additional 6,701,097 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted 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 acquiring an additional 5,461,767 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Down 0.6 %

Bristol-Myers Squibb stock traded down $0.28 during midday trading on Tuesday, hitting $47.31. 15,640,456 shares of the stock were exchanged, compared to its average volume of 15,979,146. The stock’s 50-day simple moving average is $42.52 and its 200 day simple moving average is $46.69. The stock has a market capitalization of $95.90 billion, a price-to-earnings ratio of -15.26, a PEG ratio of 12.51 and a beta of 0.44. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.41.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BMY shares. Cantor Fitzgerald restated a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lowered 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 report on Tuesday, July 23rd. BMO Capital Markets decreased their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Barclays cut Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price target for the company. in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $55.79.

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.