Jennison Associates LLC Has $71.50 Million Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Jennison Associates LLC lowered its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 63.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,393,554 shares of the biopharmaceutical company’s stock after selling 2,375,382 shares during the quarter. Jennison Associates LLC’s holdings in Bristol-Myers Squibb were worth $71,503,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $25,000. Milestone Investment Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $27,000. Blue Bell Private Wealth Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 61.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 200 shares during the last quarter. Legacy Financial Group LLC acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $39,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.4 %

BMY stock opened at $49.14 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The stock has a market capitalization of $99.59 billion, a price-to-earnings ratio of 12.73, 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 $51.38. Bristol-Myers Squibb has a fifty-two week low of $47.58 and a fifty-two week high of $70.93.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter last year, the business earned $1.82 earnings per share. Bristol-Myers Squibb’s revenue was up .6% on a year-over-year basis. On average, equities analysts anticipate that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is currently 62.18%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Finally, Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $61.18.

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.