Allegheny Financial Group LTD Cuts Stake in Bristol-Myers Squibb (NYSE:BMY)

Allegheny Financial Group LTD reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,100 shares of the biopharmaceutical company’s stock after selling 434 shares during the period. Allegheny Financial Group LTD’s holdings in Bristol-Myers Squibb were worth $793,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Capital International Investors raised its position in Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after purchasing an additional 8,675,322 shares during the period. Norges Bank purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth about $1,560,524,000. Primecap Management Co. CA lifted its stake in shares of Bristol-Myers Squibb by 14.6% in the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after acquiring an additional 2,998,228 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Bristol-Myers Squibb by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock valued at $870,198,000 after acquiring an additional 1,246,066 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Bristol-Myers Squibb by 77.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after acquiring an additional 5,461,767 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock opened at $50.44 on Tuesday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $62.00. The firm has a market capitalization of $102.25 billion, a P/E ratio of -16.11, a P/E/G ratio of 12.92 and a beta of 0.44. 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 business has a fifty day simple moving average of $45.32 and a two-hundred day simple moving average of $46.56.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. Bristol-Myers Squibb’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the company posted $1.75 EPS. On average, equities analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Analysts Set New Price Targets

Several brokerages have weighed in on BMY. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Barclays raised their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group boosted their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $54.67.

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.