FARMERS & MERCHANTS TRUST Co OF LONG BEACH Purchases Shares of 4,308 Bristol-Myers Squibb (NYSE:BMY)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,308 shares of the biopharmaceutical company’s stock, valued at approximately $223,000.

Other institutional investors have also made changes to their positions in the company. Capital International Investors boosted its stake 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 last quarter. Primecap Management Co. CA grew its stake in shares of Bristol-Myers Squibb by 1.0% in the second quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock valued at $975,897,000 after buying an additional 225,197 shares in the last quarter. Legal & General Group Plc lifted its stake in Bristol-Myers Squibb by 3.8% in the second quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock valued at $839,946,000 after acquiring an additional 735,613 shares during the last quarter. Independent Franchise Partners LLP raised its holdings in shares of Bristol-Myers Squibb by 4.0% in the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock valued at $606,364,000 after purchasing an additional 556,295 shares during the period. Finally, Pzena Investment Management LLC grew its holdings in Bristol-Myers Squibb by 15.0% during the second quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock worth $586,999,000 after purchasing an additional 1,840,424 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock opened at $52.19 on Friday. The company has a market cap of $105.79 billion, a PE ratio of -16.84, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $57.65. The business has a 50 day moving average price of $49.75 and a 200-day moving average price of $46.43.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data 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. The firm had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.75 EPS. Equities analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.60%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. UBS Group raised their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday. Jefferies Financial Group lifted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. TD Cowen boosted their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Finally, StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $53.00.

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.