Sovereign Financial Group Inc. Sells 950 Shares of Bristol-Myers Squibb (NYSE:BMY)

Sovereign Financial Group Inc. decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,216 shares of the biopharmaceutical company’s stock after selling 950 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Bristol-Myers Squibb were worth $678,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp lifted its position in Bristol-Myers Squibb by 5.8% during the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after acquiring an additional 1,394,158 shares during the period. Invesco Ltd. increased its holdings in Bristol-Myers Squibb by 8.6% in the 3rd quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after buying an additional 1,240,902 shares during the period. Charles Schwab Investment Management Inc. raised its position in Bristol-Myers Squibb by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,361,717 shares of the biopharmaceutical company’s stock worth $582,970,000 after buying an additional 134,815 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Bristol-Myers Squibb by 48.0% during the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock valued at $401,806,000 after acquiring an additional 2,540,360 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Bristol-Myers Squibb by 3.2% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,594,092 shares of the biopharmaceutical company’s stock worth $287,033,000 after acquiring an additional 172,769 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BMY. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Barclays lowered their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Finally, William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Trading Down 0.8 %

Shares of Bristol-Myers Squibb stock traded down $0.37 during mid-day trading on Wednesday, hitting $43.67. The stock had a trading volume of 11,895,173 shares, compared to its average volume of 15,740,913. The firm has a market cap of $88.52 billion, a P/E ratio of -14.16, a price-to-earnings-growth ratio of 14.82 and a beta of 0.45. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The firm has a 50-day moving average of $50.11 and a two-hundred day moving average of $50.48. Bristol-Myers Squibb has a 12-month low of $43.33 and a 12-month high of $69.10.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. During the same quarter last year, the firm earned $2.05 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 5.50%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.