First Interstate Bank Sells 3,685 Shares of Bristol-Myers Squibb (NYSE:BMY)

First Interstate Bank reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,657 shares of the biopharmaceutical company’s stock after selling 3,685 shares during the quarter. First Interstate Bank’s holdings in Bristol-Myers Squibb were worth $3,164,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in BMY. Norges Bank bought a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $1,873,696,000. Moneta Group Investment Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 114,228.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock worth $1,544,751,000 after purchasing an additional 21,451,006 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Bristol-Myers Squibb by 48.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after purchasing an additional 2,540,360 shares in the last quarter. AustralianSuper Pty Ltd purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $86,965,000. Finally, Cowa LLC raised its holdings in Bristol-Myers Squibb by 9,777.8% in the 1st quarter. Cowa LLC now owns 1,657,894 shares of the biopharmaceutical company’s stock worth $1,211,000 after acquiring an additional 1,641,110 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BMY. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Wells Fargo & Company decreased their target price on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 6th. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Finally, William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $61.12.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock traded down $0.24 during mid-day trading on Tuesday, hitting $48.27. The stock had a trading volume of 11,931,092 shares, compared to its average volume of 15,903,355. The firm has a market capitalization of $97.83 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.78 and a beta of 0.39. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The firm’s 50 day moving average is $51.29 and its 200 day moving average is $51.69. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $70.93.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.15. The company had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. Bristol-Myers Squibb’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.82 EPS. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 5.41 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.97%. Bristol-Myers Squibb’s payout ratio is 62.18%.

Bristol-Myers Squibb Company 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.