Trust Co. of Vermont Sells 2,654 Shares of Bristol-Myers Squibb (NYSE:BMY)

Trust Co. of Vermont reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 6.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 39,456 shares of the biopharmaceutical company’s stock after selling 2,654 shares during the quarter. Trust Co. of Vermont’s holdings in Bristol-Myers Squibb were worth $2,041,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital International Investors boosted 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 worth $3,807,153,000 after buying an additional 8,675,322 shares during the period. M&G Plc bought a new stake in Bristol-Myers Squibb during the first quarter valued at about $392,608,000. Pzena Investment Management LLC grew its position in shares of Bristol-Myers Squibb by 119.8% in the first quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock valued at $666,699,000 after purchasing an additional 6,701,097 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Bristol-Myers Squibb by 77.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after purchasing an additional 5,461,767 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Bristol-Myers Squibb by 97.2% during the 1st quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock worth $431,084,000 after purchasing an additional 3,918,234 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on BMY shares. Barclays raised their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. UBS Group boosted their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $53.20.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $53.23 on Friday. The stock’s fifty day simple moving average is $50.36 and its 200 day simple moving average is $46.42. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $57.09. The firm has a market cap of $107.90 billion, a price-to-earnings ratio of -17.17, a P/E/G ratio of 13.75 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

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

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

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.