Ameriprise Financial Inc. Sells 2,100,379 Shares of Bristol-Myers Squibb (NYSE:BMY)

Ameriprise Financial Inc. trimmed its stake in Bristol-Myers Squibb (NYSE:BMY) by 10.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,663,295 shares of the biopharmaceutical company’s stock after selling 2,100,379 shares during the quarter. Ameriprise Financial Inc. owned 0.87% of Bristol-Myers Squibb worth $733,552,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BMY. ESL Trust Services LLC purchased a new stake in Bristol-Myers Squibb during the 1st quarter valued at about $27,000. LGT Financial Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 227 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the second quarter valued at approximately $39,000. Fairman Group LLC purchased a new position in Bristol-Myers Squibb in the 4th quarter worth approximately $42,000. Finally, Beach Investment Counsel Inc. PA bought a new position in Bristol-Myers Squibb in the 2nd quarter valued at approximately $42,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BMY. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. TD Cowen boosted their target price on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Barclays raised their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. BMO Capital Markets reissued a “market perform” rating and set a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $55.00.

Bristol-Myers Squibb Stock Down 1.9 %

BMY stock opened at $49.95 on Thursday. The business’s 50-day moving average price is $48.07 and its 200-day moving average price is $46.36. The stock has a market cap of $101.25 billion, a P/E ratio of -16.11, a PEG ratio of 12.96 and a beta of 0.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $59.25.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.43. The business had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.75 earnings per share. On average, equities research analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.80%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

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.