US Bancorp DE Reduces Holdings in Bristol Myers Squibb Company (NYSE:BMY)

US Bancorp DE lowered its position in Bristol Myers Squibb Company (NYSE:BMY) by 2.7% in the 1st quarter, HoldingsChannel reports. The fund owned 1,647,926 shares of the biopharmaceutical company’s stock after selling 45,158 shares during the period. US Bancorp DE’s holdings in Bristol Myers Squibb were worth $100,507,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its position in shares of Bristol Myers Squibb by 59.9% in the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock valued at $1,814,341,000 after purchasing an additional 12,011,983 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Bristol Myers Squibb by 701.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company’s stock worth $705,309,000 after purchasing an additional 10,913,708 shares in the last quarter. Northern Trust Corp boosted its stake in Bristol Myers Squibb by 16.2% in the 4th quarter. Northern Trust Corp now owns 24,658,360 shares of the biopharmaceutical company’s stock worth $1,394,677,000 after purchasing an additional 3,431,248 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in Bristol Myers Squibb by 72.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 7,769,227 shares of the biopharmaceutical company’s stock valued at $439,427,000 after buying an additional 3,275,061 shares in the last quarter. Finally, Capital International Investors grew its holdings in Bristol Myers Squibb by 7.5% during the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company’s stock valued at $2,593,940,000 after buying an additional 3,218,865 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Stock Performance

NYSE BMY opened at $44.25 on Friday. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65. The company has a 50-day simple moving average of $47.51 and a two-hundred day simple moving average of $52.28. The firm has a market cap of $90.05 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.30 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.60%. The company had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. During the same period in the prior year, the business posted $2.07 EPS. The firm’s revenue was up .6% compared to the same quarter last year. On average, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio is presently 100.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BMY. Jefferies Financial Group lowered their price target on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Cantor Fitzgerald restated a “neutral” rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Piper Sandler began coverage on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price target on the stock. Finally, Argus raised Bristol Myers Squibb to a “hold” rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Bristol Myers Squibb presently has an average rating of “Hold” and an average price target of $57.33.

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.