Westwood Holdings Group Inc. Decreases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Westwood Holdings Group Inc. trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 97.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,785 shares of the biopharmaceutical company’s stock after selling 198,248 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Bristol-Myers Squibb were worth $240,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Capital International Investors raised its stake in shares of 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 worth $3,807,153,000 after purchasing an additional 8,675,322 shares during the last quarter. Primecap Management Co. CA grew its holdings in Bristol-Myers Squibb by 1.0% during the second quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock worth $975,897,000 after acquiring an additional 225,197 shares during the period. Pzena Investment Management LLC grew its holdings in Bristol-Myers Squibb by 15.0% during the second quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock worth $586,999,000 after acquiring an additional 1,840,424 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Bristol-Myers Squibb by 77.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after acquiring an additional 5,461,767 shares during the period. Finally, M&G Plc grew its holdings in Bristol-Myers Squibb by 34.1% during the second quarter. M&G Plc now owns 9,751,027 shares of the biopharmaceutical company’s stock worth $409,543,000 after acquiring an additional 2,480,515 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $49.41 on Monday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $59.46. The firm has a market capitalization of $100.16 billion, a PE ratio of -15.94, a P/E/G ratio of 12.59 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The business’s 50 day moving average price is $47.68 and its 200-day moving average price is $46.40.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The firm had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter last year, the business posted $1.75 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.86%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analysts Set New Price Targets

Several research firms recently commented on BMY. Barclays raised their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. TD Cowen raised their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft dropped their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $55.00.

Bristol-Myers Squibb Company 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.