Bristol-Myers Squibb Co (BMY) Shares Sold by Northeast Investment Management

Northeast Investment Management lowered its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 290,336 shares of the biopharmaceutical company’s stock after selling 3,487 shares during the quarter. Bristol-Myers Squibb accounts for 1.4% of Northeast Investment Management’s holdings, making the stock its 27th biggest position. Northeast Investment Management’s holdings in Bristol-Myers Squibb were worth $18,024,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its stake in shares of Bristol-Myers Squibb by 1,190.9% in the 2nd quarter. Acadian Asset Management LLC now owns 211,787 shares of the biopharmaceutical company’s stock valued at $11,720,000 after purchasing an additional 195,381 shares in the last quarter. Alps Advisors Inc. bought a new stake in Bristol-Myers Squibb during the 2nd quarter worth about $529,000. Parsec Financial Management Inc. raised its holdings in Bristol-Myers Squibb by 15.8% during the 2nd quarter. Parsec Financial Management Inc. now owns 8,543 shares of the biopharmaceutical company’s stock worth $473,000 after purchasing an additional 1,168 shares during the last quarter. First Mercantile Trust Co. raised its holdings in Bristol-Myers Squibb by 9.6% during the 2nd quarter. First Mercantile Trust Co. now owns 68,918 shares of the biopharmaceutical company’s stock worth $3,814,000 after purchasing an additional 6,063 shares during the last quarter. Finally, Security National Bank raised its holdings in Bristol-Myers Squibb by 6.3% during the 2nd quarter. Security National Bank now owns 50,815 shares of the biopharmaceutical company’s stock worth $2,812,000 after purchasing an additional 3,022 shares during the last quarter. 72.90% of the stock is owned by hedge funds and other institutional investors.

Shares of BMY stock opened at $52.93 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.53 and a quick ratio of 1.40. The stock has a market capitalization of $86.39 billion, a PE ratio of 17.58, a P/E/G ratio of 1.48 and a beta of 1.08. Bristol-Myers Squibb Co has a one year low of $46.94 and a one year high of $70.05.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 25th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.18. Bristol-Myers Squibb had a return on equity of 47.89% and a net margin of 6.50%. The business had revenue of $5.69 billion during the quarter, compared to analyst estimates of $5.72 billion. As a group, sell-side analysts expect that Bristol-Myers Squibb Co will post 3.87 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Friday, October 5th were given a $0.40 dividend. The ex-dividend date was Thursday, October 4th. This represents a $1.60 annualized dividend and a dividend yield of 3.02%. Bristol-Myers Squibb’s dividend payout ratio is presently 53.16%.

BMY has been the subject of several recent research reports. Citigroup cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $62.00 to $57.00 in a report on Monday, October 22nd. JPMorgan Chase & Co. upped their price target on Bristol-Myers Squibb from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. Credit Suisse Group reaffirmed a “hold” rating and issued a $61.00 price target on shares of Bristol-Myers Squibb in a research note on Wednesday, September 12th. Zacks Investment Research cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. Finally, William Blair reaffirmed an “outperform” rating on shares of Bristol-Myers Squibb in a research note on Monday, October 22nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $61.84.

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Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

Further Reading: Reverse Stock Split

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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