State of Alaska Department of Revenue Cuts Stake in Bristol-Myers Squibb (NYSE:BMY)

State of Alaska Department of Revenue cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 502,222 shares of the biopharmaceutical company’s stock after selling 47,130 shares during the period. State of Alaska Department of Revenue’s holdings in Bristol-Myers Squibb were worth $27,235,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BMY. Northwest Financial Advisors acquired a new position in Bristol-Myers Squibb in the fourth quarter worth about $27,000. Pacific Capital Wealth Advisors Inc. acquired a new position in Bristol-Myers Squibb in the fourth quarter worth about $34,000. Turtle Creek Wealth Advisors LLC acquired a new position in Bristol-Myers Squibb in the fourth quarter worth about $40,000. Wetzel Investment Advisors Inc. acquired a new position in Bristol-Myers Squibb in the fourth quarter worth about $40,000. Finally, Fairman Group LLC bought a new position in Bristol-Myers Squibb in the fourth quarter worth about $42,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

NYSE:BMY traded down $0.39 during midday trading on Wednesday, hitting $40.06. 9,124,530 shares of the stock were exchanged, compared to its average volume of 15,749,291. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The company has a market capitalization of $81.21 billion, a price-to-earnings ratio of -12.92, a P/E/G ratio of 14.21 and a beta of 0.44. Bristol-Myers Squibb has a one year low of $39.63 and a one year high of $65.38. The business has a 50-day moving average price of $42.64 and a two-hundred day moving average price of $47.97.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly 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. The firm had revenue of $11.87 billion for 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%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 earnings per share. Sell-side analysts predict that Bristol-Myers Squibb will post 0.58 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. Shareholders of record on Friday, July 5th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 5.99%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Barclays cut their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Wells Fargo & Company raised their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.