Chevy Chase Trust Holdings LLC Sells 23,887 Shares of Bristol-Myers Squibb (NYSE:BMY)

Chevy Chase Trust Holdings LLC reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,082,149 shares of the biopharmaceutical company’s stock after selling 23,887 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Bristol-Myers Squibb worth $61,206,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. AMF Tjanstepension AB raised its position in Bristol-Myers Squibb by 6.9% in the 3rd quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock worth $31,618,000 after purchasing an additional 39,419 shares during the period. Exchange Traded Concepts LLC raised its position in Bristol-Myers Squibb by 18.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 26,468 shares of the biopharmaceutical company’s stock worth $1,369,000 after purchasing an additional 4,064 shares during the period. Swedbank AB raised its position in Bristol-Myers Squibb by 0.9% in the 3rd quarter. Swedbank AB now owns 3,139,552 shares of the biopharmaceutical company’s stock worth $162,440,000 after purchasing an additional 28,427 shares during the period. SeaCrest Wealth Management LLC raised its position in Bristol-Myers Squibb by 35.7% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 21,174 shares of the biopharmaceutical company’s stock worth $1,096,000 after purchasing an additional 5,576 shares during the period. Finally, Sumitomo Life Insurance Co. increased its position in shares of Bristol-Myers Squibb by 2.8% in the third quarter. Sumitomo Life Insurance Co. now owns 22,850 shares of the biopharmaceutical company’s stock valued at $1,182,000 after acquiring an additional 614 shares during the period. 76.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BMY. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald boosted their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. BMO Capital Markets boosted their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Finally, Citigroup boosted their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Stock Down 0.4 %

BMY opened at $55.93 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The firm has a 50 day moving average price of $57.38 and a 200-day moving average price of $54.02. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.10. The stock has a market capitalization of $113.44 billion, a price-to-earnings ratio of -12.65, a PEG ratio of 2.13 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.81%. Equities research analysts forecast that Bristol-Myers Squibb will post 6.75 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.43%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is presently -56.11%.

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.