Retirement Systems of Alabama Has $79.62 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Retirement Systems of Alabama cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.3% in the 4th quarter, Holdings Channel reports. The firm owned 1,407,661 shares of the biopharmaceutical company’s stock after selling 4,726 shares during the period. Retirement Systems of Alabama’s holdings in Bristol-Myers Squibb were worth $79,617,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BMY. State Street Corp increased its holdings in shares of Bristol-Myers Squibb by 1.6% in the third quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock worth $4,806,469,000 after purchasing an additional 1,451,214 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Bristol-Myers Squibb by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock worth $3,157,713,000 after buying an additional 1,968,729 shares in the last quarter. FMR LLC increased its position in shares of Bristol-Myers Squibb by 10.5% during the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock valued at $2,325,227,000 after acquiring an additional 4,275,787 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Bristol-Myers Squibb by 2.5% during the third quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company’s stock valued at $2,228,425,000 after acquiring an additional 1,036,495 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Bristol-Myers Squibb by 18.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock worth $986,931,000 after purchasing an additional 3,002,418 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Trading Down 1.3 %

NYSE BMY opened at $59.15 on Wednesday. The firm has a market capitalization of $119.97 billion, a price-to-earnings ratio of -16.48, a PEG ratio of 2.10 and a beta of 0.45. The company’s 50 day moving average price is $57.63 and its 200 day moving average price is $53.47. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.10. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is currently -69.08%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BMY. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and lifted their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. BMO Capital Markets boosted their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley boosted their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $56.93.

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.