Cascade Investment Group Inc. Sells 650 Shares of Bristol-Myers Squibb (NYSE:BMY)

Cascade Investment Group Inc. lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 10.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,714 shares of the biopharmaceutical company’s stock after selling 650 shares during the quarter. Cascade Investment Group Inc.’s holdings in Bristol-Myers Squibb were worth $296,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Capital International Investors lifted its position in shares of Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after acquiring an additional 8,675,322 shares during the period. Primecap Management Co. CA lifted its position in shares of Bristol-Myers Squibb by 1.0% during the 2nd quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock worth $975,897,000 after buying an additional 225,197 shares during the period. Legal & General Group Plc lifted its position in shares of Bristol-Myers Squibb by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock worth $839,946,000 after buying an additional 735,613 shares during the period. Independent Franchise Partners LLP lifted its position in shares of Bristol-Myers Squibb by 4.0% during the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock worth $606,364,000 after buying an additional 556,295 shares during the period. Finally, Pzena Investment Management LLC lifted its position in shares of Bristol-Myers Squibb by 15.0% during the 2nd quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock worth $586,999,000 after buying an additional 1,840,424 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 0.2 %

NYSE BMY opened at $52.76 on Wednesday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $57.65. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The company has a market capitalization of $106.95 billion, a PE ratio of -17.02, a P/E/G ratio of 13.75 and a beta of 0.46. The stock has a 50-day simple moving average of $49.97 and a 200 day simple moving average of $46.32.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The firm had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same period in the previous year, the firm earned $1.75 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. Research analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.55%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 16th. UBS Group lifted their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Jefferies Financial Group lifted their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, TD Cowen lifted their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $53.00.

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.