Carret Asset Management LLC Has $2.94 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Carret Asset Management LLC reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,337 shares of the biopharmaceutical company’s stock after selling 506 shares during the period. Carret Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $2,942,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BMY. Pacer Advisors Inc. raised its holdings in 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 valued at $401,806,000 after buying an additional 2,540,360 shares during the last quarter. AustralianSuper Pty Ltd bought a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $86,965,000. Mizuho Markets Americas LLC bought a new position in Bristol-Myers Squibb during the 3rd quarter worth approximately $82,405,000. Northern Trust Corp raised its holdings in Bristol-Myers Squibb by 5.8% during the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after purchasing an additional 1,394,158 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Bristol-Myers Squibb by 8.6% during the 3rd quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after purchasing an additional 1,240,902 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on BMY shares. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Wells Fargo & Company lifted their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $61.18.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY traded down $0.13 during midday trading on Wednesday, hitting $48.86. 16,032,367 shares of the company’s stock were exchanged, compared to its average volume of 15,532,586. Bristol-Myers Squibb has a 12-month low of $47.58 and a 12-month high of $70.93. 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 company has a market cap of $99.03 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.48 and a beta of 0.39. The business’s fifty day moving average price is $51.22 and its two-hundred day moving average price is $51.32.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company had revenue of $11.48 billion during the quarter, compared to analyst estimates of $11.19 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. Bristol-Myers Squibb’s revenue was up .6% on a year-over-year basis. As a group, research analysts forecast that Bristol-Myers Squibb will post 6.63 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.91%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently 62.18%.

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.