Ameriprise Financial Inc. Has $733.55 Million Stake in Bristol-Myers Squibb (NYSE:BMY)

Ameriprise Financial Inc. trimmed its position in Bristol-Myers Squibb (NYSE:BMY - Free Report) by 10.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,663,295 shares of the biopharmaceutical company's stock after selling 2,100,379 shares during the quarter. Ameriprise Financial Inc. owned 0.87% of Bristol-Myers Squibb worth $733,552,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb in the first quarter valued at $27,000. LGT Financial Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company's stock worth $32,000 after buying an additional 227 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb in the second quarter valued at $39,000. Fairman Group LLC bought a new position in Bristol-Myers Squibb during the 4th quarter valued at $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in Bristol-Myers Squibb during the 2nd quarter worth $42,000. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock traded up $0.17 during trading on Thursday, hitting $50.12. The stock had a trading volume of 8,392,990 shares, compared to its average volume of 15,001,001. The business has a fifty day moving average of $48.21 and a two-hundred day moving average of $46.38. The firm has a market cap of $101.60 billion, a P/E ratio of -16.17, a PEG ratio of 12.96 and a beta of 0.46. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $58.75. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion for the quarter, compared to analysts' expectations of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business's revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.75 EPS. On average, sell-side analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.79%. Bristol-Myers Squibb's dividend payout ratio (DPR) is -77.42%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BMY. BMO Capital Markets reaffirmed a "market perform" rating and set a $48.00 price target on shares of Bristol-Myers Squibb in a research report on Monday. Barclays boosted their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an "underweight" rating in a report on Thursday, August 22nd. TD Cowen raised their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a "hold" rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a "hold" rating on the stock in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group increased their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a "hold" rating in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $55.00.

About Bristol-Myers Squibb

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.