Hartford Financial Management Inc. Sells 9,952 Shares of Bristol-Myers Squibb (NYSE:BMY)

Hartford Financial Management Inc. trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMYFree Report) by 24.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,746 shares of the biopharmaceutical company’s stock after selling 9,952 shares during the quarter. Hartford Financial Management Inc.’s holdings in Bristol-Myers Squibb were worth $1,667,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth about $1,560,524,000. Van ECK Associates Corp grew its stake in Bristol-Myers Squibb by 792.6% during the fourth quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company’s stock worth $206,828,000 after buying an additional 3,579,324 shares in the last quarter. Primecap Management Co. CA grew its stake in Bristol-Myers Squibb by 14.6% during the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after buying an additional 2,998,228 shares in the last quarter. Pacer Advisors Inc. grew its stake in Bristol-Myers Squibb by 48.0% during the fourth quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after buying an additional 2,540,360 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Bristol-Myers Squibb by 36.7% during the fourth quarter. Franklin Resources Inc. now owns 9,357,199 shares of the biopharmaceutical company’s stock worth $480,118,000 after buying an additional 2,510,134 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Trading Down 1.5 %

Shares of NYSE:BMY traded down $0.67 during mid-day trading on Monday, hitting $43.36. The company had a trading volume of 10,237,618 shares, compared to its average volume of 15,502,325. The firm has a fifty day moving average price of $48.69 and a 200 day moving average price of $49.92. Bristol-Myers Squibb has a one year low of $43.31 and a one year high of $67.16. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The company has a market capitalization of $87.90 billion, a PE ratio of -13.99, a price-to-earnings-growth ratio of 14.88 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. During the same quarter last year, the firm posted $2.05 EPS. Bristol-Myers Squibb’s revenue was up 4.7% compared to the same quarter last year. As a group, research analysts forecast that Bristol-Myers Squibb will post 0.59 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BMY shares. Wells Fargo & Company raised their price target 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. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Barclays dropped their price objective on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Finally, StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $60.00.

Read Our Latest Stock Analysis on BMY

About Bristol-Myers Squibb

(Free Report)

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.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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