First Financial Bank Trust Division Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

First Financial Bank Trust Division cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 4.6% in the first quarter, HoldingsChannel reports. The firm owned 12,689 shares of the biopharmaceutical company’s stock after selling 612 shares during the quarter. First Financial Bank Trust Division’s holdings in Bristol-Myers Squibb were worth $688,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at $1,560,524,000. Northern Trust Corp increased its position in Bristol-Myers Squibb by 5.8% during the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock valued at $1,467,989,000 after acquiring an additional 1,394,158 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Bristol-Myers Squibb by 14.6% in the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after acquiring an additional 2,998,228 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Bristol-Myers Squibb by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock worth $870,198,000 after acquiring an additional 1,246,066 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of 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 purchasing an additional 134,815 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Down 1.6 %

Bristol-Myers Squibb stock traded down $0.67 during trading hours on Tuesday, reaching $40.30. The stock had a trading volume of 6,679,943 shares, compared to its average volume of 15,377,682. Bristol-Myers Squibb has a 52 week low of $39.91 and a 52 week high of $66.38. The company has a market cap of $81.69 billion, a price-to-earnings ratio of -13.16, a PEG ratio of 13.95 and a beta of 0.43. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The business’s 50 day moving average price is $44.30 and its 200-day moving average price is $48.67.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.96%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Ratings Changes

A number of research firms recently weighed in on BMY. BMO Capital Markets reduced their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Barclays decreased their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday. Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Finally, Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $60.00.

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.