Tobam trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 4.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 209,106 shares of the biopharmaceutical company’s stock after selling 9,203 shares during the quarter. Bristol-Myers Squibb makes up 2.0% of Tobam’s holdings, making the stock its 14th biggest holding. Tobam’s holdings in Bristol-Myers Squibb were worth $10,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb during the first quarter worth about $27,000. LGT Financial Advisors LLC increased its holdings in Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares in the last quarter. MFA Wealth Advisors LLC bought a new stake in Bristol-Myers Squibb in the second quarter worth approximately $39,000. Fairman Group LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter worth approximately $42,000. Finally, Beach Investment Counsel Inc. PA bought a new stake in Bristol-Myers Squibb in the second quarter worth approximately $42,000. 76.41% of the stock is currently owned by institutional investors.
Bristol-Myers Squibb Stock Down 0.6 %
Shares of NYSE:BMY traded down $0.31 during mid-day trading on Thursday, hitting $52.49. 2,655,915 shares of the company traded hands, compared to its average volume of 14,946,704. The stock has a market cap of $106.40 billion, a P/E ratio of -17.03, a P/E/G ratio of 12.96 and a beta of 0.46. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $57.65. The stock has a 50-day moving average price of $49.60 and a two-hundred day moving average price of $46.39.
Bristol-Myers Squibb Dividend Announcement
The firm also recently disclosed 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 is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.57%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on BMY. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 16th. TD Cowen lifted their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday. Barclays lifted their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, UBS Group boosted their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $53.00.
Get Our Latest Stock Analysis on BMY
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.
Further Reading
- Five stocks we like better than Bristol-Myers Squibb
- What is a buyback in stocks? A comprehensive guide for investors
- MercadoLibre Targets Double-Digit Upside with Argentina Boom
- Upcoming IPO Stock Lockup Period, Explained
- Domino’s Pizza Stock Delivers: A Hot Buy for Growth Investors
- 3 Grocery Stocks That Can Help Take a Bite Out of Inflation
- 3 Small-Cap Stocks Ready to Deliver Significant Growth
Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb (NYSE:BMY – Free Report).
Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.