Bristol Myers Squibb Company $BMY Shares Sold by Pettee Investors Inc.

Pettee Investors Inc. trimmed its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 63.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,224 shares of the biopharmaceutical company’s stock after selling 19,190 shares during the period. Pettee Investors Inc.’s holdings in Bristol Myers Squibb were worth $506,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BMY. Gateway Investment Advisers LLC grew its stake in shares of Bristol Myers Squibb by 10.0% in the 3rd quarter. Gateway Investment Advisers LLC now owns 113,457 shares of the biopharmaceutical company’s stock valued at $5,117,000 after buying an additional 10,284 shares in the last quarter. CWA Asset Management Group LLC grew its position in Bristol Myers Squibb by 25.9% in the third quarter. CWA Asset Management Group LLC now owns 150,359 shares of the biopharmaceutical company’s stock worth $6,781,000 after acquiring an additional 30,909 shares in the last quarter. Commonwealth Retirement Investments LLC increased its stake in shares of Bristol Myers Squibb by 24.6% during the 2nd quarter. Commonwealth Retirement Investments LLC now owns 59,183 shares of the biopharmaceutical company’s stock worth $2,740,000 after purchasing an additional 11,690 shares during the last quarter. Railway Pension Investments Ltd raised its holdings in shares of Bristol Myers Squibb by 3.7% during the 3rd quarter. Railway Pension Investments Ltd now owns 1,139,600 shares of the biopharmaceutical company’s stock valued at $51,396,000 after purchasing an additional 40,300 shares in the last quarter. Finally, Stephens Inc. AR lifted its stake in shares of Bristol Myers Squibb by 13.5% in the 3rd quarter. Stephens Inc. AR now owns 273,343 shares of the biopharmaceutical company’s stock valued at $12,328,000 after purchasing an additional 32,476 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Up 1.5%

Shares of BMY stock opened at $55.85 on Tuesday. Bristol Myers Squibb Company has a 12 month low of $42.52 and a 12 month high of $63.33. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 2.39. The firm has a market cap of $113.70 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 0.17 and a beta of 0.29. The stock has a 50 day moving average of $53.58 and a 200-day moving average of $48.72.

Bristol Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Friday, January 2nd were issued a $0.63 dividend. This is a boost from Bristol Myers Squibb’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.52 dividend on an annualized basis and a yield of 4.5%. Bristol Myers Squibb’s payout ratio is currently 85.14%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BMY. Scotiabank restated a “sector perform” rating and set a $60.00 target price (up from $53.00) on shares of Bristol Myers Squibb in a report on Friday, January 9th. UBS Group raised Bristol Myers Squibb from a “neutral” rating to a “buy” rating and raised their price objective for the company from $46.00 to $65.00 in a research note on Wednesday, January 7th. Morgan Stanley reaffirmed an “underweight” rating and set a $37.00 target price (up previously from $36.00) on shares of Bristol Myers Squibb in a research report on Friday, December 12th. Wall Street Zen raised shares of Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Bristol Myers Squibb from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 10th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $57.43.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.