Carret Asset Management LLC Cuts Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Carret Asset Management LLC decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 49,916 shares of the biopharmaceutical company’s stock after selling 3,951 shares during the period. Carret Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $2,823,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BMY. Raymond James Financial Inc. purchased a new position in Bristol-Myers Squibb during the 4th quarter valued at about $257,618,000. FMR LLC grew its position in shares of Bristol-Myers Squibb by 10.5% in the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after buying an additional 4,275,787 shares during the last quarter. Jennison Associates LLC grew its position in shares of Bristol-Myers Squibb by 420.1% in the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock worth $219,443,000 after buying an additional 3,425,789 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Bristol-Myers Squibb by 695.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock worth $183,971,000 after buying an additional 3,107,672 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Bristol-Myers Squibb by 18.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock worth $986,931,000 after buying an additional 3,002,418 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Buying and Selling

In other news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the transaction, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BMY. Bank of America reaffirmed a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Citigroup lifted their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Cantor Fitzgerald lifted their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Wells Fargo & Company lifted their price objective on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Finally, Wolfe Research began coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY opened at $60.22 on Friday. The firm has a 50-day simple moving average of $57.76 and a 200-day simple moving average of $55.44. The stock has a market capitalization of $122.21 billion, a price-to-earnings ratio of -13.63, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.33.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. On average, equities analysts predict that Bristol-Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.12%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

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.