Franklin Resources Inc. Reduces Stake in Bristol-Myers Squibb (NYSE:BMY)

Franklin Resources Inc. lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 38.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,563,853 shares of the biopharmaceutical company's stock after selling 2,213,071 shares during the quarter. Franklin Resources Inc. owned about 0.18% of Bristol-Myers Squibb worth $187,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in BMY. FMR LLC boosted its holdings in Bristol-Myers Squibb by 10.5% in the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company's stock worth $2,325,227,000 after acquiring an additional 4,275,787 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Bristol-Myers Squibb by 86.3% in the second quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company's stock worth $313,398,000 after purchasing an additional 3,495,704 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Bristol-Myers Squibb by 420.1% in the third quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company's stock worth $219,443,000 after purchasing an additional 3,425,789 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Bristol-Myers Squibb by 695.1% in the third quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company's stock worth $183,971,000 after purchasing an additional 3,107,672 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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. Institutional investors and hedge funds own 76.41% of the company's stock.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the business's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares of the company's stock, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction on Friday, November 1st. The shares were bought at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares of the company's stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY traded down $0.50 during trading on Friday, reaching $55.78. The stock had a trading volume of 9,406,135 shares, compared to its average volume of 14,042,877. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The business has a fifty day moving average price of $55.86 and a 200-day moving average price of $49.34. The stock has a market cap of $113.13 billion, a PE ratio of -15.54, a PEG ratio of 15.20 and a beta of 0.45. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The business's revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.00 earnings per share. On average, equities analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 4.45%. This is a positive change from Bristol-Myers Squibb's previous quarterly dividend of $0.60. Bristol-Myers Squibb's payout ratio is -69.08%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BMY shares. Leerink Partners upgraded Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. BMO Capital Markets raised their price objective on 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. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a "market perform" rating and a $56.00 price objective for the company. Jefferies Financial Group lifted their price target 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. Finally, Leerink Partnrs upgraded Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $54.29.

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.