Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in Bristol-Myers Squibb (NYSE:BMY) by 10.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,562,969 shares of the biopharmaceutical company’s stock after selling 511,497 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Bristol-Myers Squibb were worth $189,500,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Mackenzie Financial Corp grew its stake in shares of Bristol-Myers Squibb by 37.9% in the fourth quarter. Mackenzie Financial Corp now owns 611,714 shares of the biopharmaceutical company’s stock worth $31,387,000 after purchasing an additional 168,135 shares in the last quarter. Tyche Wealth Partners LLC acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $349,000. Rakuten Securities Inc. purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at $44,000. Daiwa Securities Group Inc. lifted its stake in Bristol-Myers Squibb by 6.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 190,525 shares of the biopharmaceutical company’s stock worth $9,776,000 after acquiring an additional 12,160 shares in the last quarter. Finally, Twin Capital Management Inc. boosted its position in Bristol-Myers Squibb by 13.4% during the 4th quarter. Twin Capital Management Inc. now owns 83,162 shares of the biopharmaceutical company’s stock worth $4,267,000 after acquiring an additional 9,831 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded up $0.25 during mid-day trading on Friday, reaching $49.36. The company had a trading volume of 14,161,770 shares, compared to its average volume of 15,904,074. The company has a 50 day moving average of $43.74 and a 200-day moving average of $46.58. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.41. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The firm has a market cap of $100.06 billion, a price-to-earnings ratio of -15.92, a PEG ratio of 12.51 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same period last year, the business earned $1.75 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, sell-side analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a dividend of $0.60 per share. The ex-dividend date was Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 4.86%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Wall Street Analyst Weigh In

Several analysts recently commented on BMY shares. Deutsche Bank Aktiengesellschaft decreased their price target 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, July 23rd. BMO Capital Markets lowered their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Cantor Fitzgerald reiterated a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Finally, TD Cowen raised their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $54.86.

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.