PNC Financial Services Group Inc. Sells 29,705 Shares of Bristol-Myers Squibb (NYSE:BMY)

PNC Financial Services Group Inc. lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,439,960 shares of the biopharmaceutical company's stock after selling 29,705 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.22% of Bristol-Myers Squibb worth $251,124,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hollencrest Capital Management raised its holdings in Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 187 shares in the last quarter. Kennebec Savings Bank purchased a new position in shares of Bristol-Myers Squibb during the third quarter valued at about $28,000. Darwin Wealth Management LLC bought a new position in Bristol-Myers Squibb in the third quarter worth about $29,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth about $34,000. Finally, Dunhill Financial LLC boosted its position in Bristol-Myers Squibb by 39.8% during the 3rd quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company's stock valued at $34,000 after acquiring an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol-Myers Squibb Stock Performance

BMY traded up $0.98 during mid-day trading on Friday, reaching $61.16. 18,533,269 shares of the company traded hands, compared to its average volume of 11,423,479. The stock has a market capitalization of $124.11 billion, a P/E ratio of -13.84, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 2.90. The company's fifty day moving average price is $57.39 and its 200-day moving average price is $55.13. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $63.11.

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Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. On average, sell-side analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 4th will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 4.05%. Bristol-Myers Squibb's dividend payout ratio is presently -56.11%.

Wall Street Analyst Weigh In

Several research firms have weighed in on BMY. Jefferies Financial Group raised Bristol-Myers Squibb from a "hold" rating to a "buy" rating and lifted their price objective for the company from $63.00 to $70.00 in a research report on Monday, December 16th. Leerink Partnrs raised Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, November 12th. Citigroup lifted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Morgan Stanley lifted their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an "underweight" rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company lifted their price objective on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $57.86.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, EVP Samit Hirawat acquired 1,823 shares of Bristol-Myers Squibb stock in a transaction dated Friday, February 14th. The stock was purchased at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares of the company's stock, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.09% of the company's stock.

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.