State of Alaska Department of Revenue Trims Stock Position in Bristol-Myers Squibb (NYSE:BMY)

State of Alaska Department of Revenue trimmed its holdings in Bristol-Myers Squibb (NYSE:BMY) by 16.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 462,997 shares of the biopharmaceutical company’s stock after selling 91,705 shares during the period. State of Alaska Department of Revenue’s holdings in Bristol-Myers Squibb were worth $23,954,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BMY. Lincoln National Corp increased its position in shares of Bristol-Myers Squibb by 7.7% during the 1st quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock worth $2,326,000 after purchasing an additional 3,052 shares during the last quarter. Chapin Davis Inc. boosted its stake in Bristol-Myers Squibb by 22.6% during the first quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock worth $1,223,000 after buying an additional 4,159 shares during the period. Accel Wealth Management increased its position in shares of Bristol-Myers Squibb by 19.0% during the first quarter. Accel Wealth Management now owns 4,934 shares of the biopharmaceutical company’s stock valued at $268,000 after acquiring an additional 788 shares during the last quarter. Xponance Inc. raised its stake in shares of Bristol-Myers Squibb by 8.8% in the 2nd quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock valued at $13,181,000 after acquiring an additional 25,543 shares during the period. Finally, Plato Investment Management Ltd lifted its holdings in shares of Bristol-Myers Squibb by 25.4% in the 2nd quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock worth $4,317,000 after acquiring an additional 21,041 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $51.92 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The company has a fifty day simple moving average of $50.75 and a 200-day simple moving average of $46.41. The stock has a market cap of $105.25 billion, a P/E ratio of -16.75, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $55.29.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) 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 company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same period in the previous year, the business earned $1.75 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BMY. TD Cowen lifted their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price on the stock. UBS Group lifted their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group increased their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $53.31.

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.