Spirit of America Management Corp NY Lowers Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Spirit of America Management Corp NY cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 52.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 7,500 shares of the biopharmaceutical company’s stock after selling 8,150 shares during the quarter. Spirit of America Management Corp NY’s holdings in Bristol-Myers Squibb were worth $388,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in Bristol-Myers Squibb by 14.1% in the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after purchasing an additional 8,675,322 shares during the last quarter. Primecap Management Co. CA increased its position 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 acquiring an additional 225,197 shares during the period. Legal & General Group Plc raised its stake in shares of Bristol-Myers Squibb by 3.8% during 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 boosted its holdings in shares of Bristol-Myers Squibb by 4.0% during the second quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock worth $606,364,000 after purchasing an additional 556,295 shares during the period. Finally, Pzena Investment Management LLC grew its stake in shares of Bristol-Myers Squibb by 15.0% in 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 last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

BMY opened at $52.92 on Friday. The company’s 50-day simple moving average is $50.63 and its two-hundred day simple moving average is $46.39. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $56.77. The stock has a market capitalization of $107.27 billion, a P/E ratio of -17.07, a P/E/G ratio of 13.75 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion for 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%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company posted $1.75 earnings per share. As a group, analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Wall Street Analyst Weigh In

A number of research firms have commented on BMY. Deutsche Bank Aktiengesellschaft lowered their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. UBS Group lifted their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. BMO Capital Markets reaffirmed a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Finally, Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target for the company. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $53.20.

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.