Cetera Trust Company N.A Reduces Stake in Bristol-Myers Squibb (NYSE:BMY)

Cetera Trust Company N.A lowered its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 89.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,968 shares of the biopharmaceutical company's stock after selling 15,959 shares during the period. Cetera Trust Company N.A's holdings in Bristol-Myers Squibb were worth $102,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Capital International Investors grew 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 valued at $3,807,153,000 after buying an additional 8,675,322 shares during the last quarter. M&G Plc bought a new stake in Bristol-Myers Squibb in the first quarter valued at approximately $392,608,000. Pzena Investment Management LLC increased its position in Bristol-Myers Squibb by 119.8% during the 1st quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company's stock valued at $666,699,000 after purchasing an additional 6,701,097 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Bristol-Myers Squibb by 77.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company's stock worth $680,469,000 after purchasing an additional 5,461,767 shares during the period. Finally, Van ECK Associates Corp raised its stake in Bristol-Myers Squibb by 97.2% during the first quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company's stock worth $431,084,000 after buying an additional 3,918,234 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Analysts Set New Price Targets

BMY has been the subject of a number of recent analyst reports. Jefferies Financial Group increased their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a "hold" rating in a report on Wednesday, August 28th. Sanford C. Bernstein assumed 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. Deutsche Bank Aktiengesellschaft lowered their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a "hold" rating on the stock in a research report on Tuesday, July 23rd. StockNews.com upgraded Bristol-Myers Squibb from a "buy" rating to a "strong-buy" rating in a report on Monday, July 29th. Finally, UBS Group lifted their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $53.20.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock traded up $0.64 during trading hours on Tuesday, hitting $52.76. 7,122,675 shares of the company were exchanged, compared to its average volume of 14,668,804. The firm has a fifty day simple moving average of $50.53 and a 200 day simple moving average of $46.35. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $56.77. The stock has a market capitalization of $106.95 billion, a price-to-earnings ratio of -17.02, a P/E/G ratio of 13.75 and a beta of 0.46. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter in the prior year, the company earned $1.75 EPS. The firm's quarterly revenue was up 8.7% compared to the same quarter last year. Research analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th 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 4.55%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb's payout ratio is currently -77.42%.

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.