Palisades Hudson Asset Management L.P. Trims Stake in Bristol-Myers Squibb Co (BMY)

Palisades Hudson Asset Management L.P. reduced its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 13.8% in the first quarter, HoldingsChannel.com reports. The fund owned 4,364 shares of the biopharmaceutical company’s stock after selling 700 shares during the quarter. Palisades Hudson Asset Management L.P.’s holdings in Bristol-Myers Squibb were worth $208,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its stake in shares of Bristol-Myers Squibb by 5.9% during the 4th quarter. Legal & General Group Plc now owns 8,568,445 shares of the biopharmaceutical company’s stock valued at $445,300,000 after buying an additional 474,820 shares in the last quarter. Chescapmanager LLC lifted its stake in shares of Bristol-Myers Squibb by 22.1% during the 4th quarter. Chescapmanager LLC now owns 361,755 shares of the biopharmaceutical company’s stock valued at $18,804,000 after buying an additional 65,367 shares in the last quarter. Phocas Financial Corp. purchased a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $73,000. CSat Investment Advisory L.P. lifted its stake in shares of Bristol-Myers Squibb by 13.6% during the 4th quarter. CSat Investment Advisory L.P. now owns 2,135 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 255 shares in the last quarter. Finally, Trust Co. of Virginia VA lifted its stake in shares of Bristol-Myers Squibb by 105.7% during the 4th quarter. Trust Co. of Virginia VA now owns 50,048 shares of the biopharmaceutical company’s stock valued at $2,601,000 after buying an additional 25,712 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently commented on BMY shares. Societe Generale upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “buy” rating in a research note on Tuesday, January 15th. Zacks Investment Research cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Bank of America set a $53.00 target price on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research note on Friday, January 25th. Credit Suisse Group set a $59.00 target price on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research note on Monday, February 4th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $59.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, February 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $57.64.

BMY stock opened at $47.01 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.79 and a current ratio of 1.93. Bristol-Myers Squibb Co has a 52 week low of $44.30 and a 52 week high of $63.69. The firm has a market cap of $77.25 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 2.21 and a beta of 0.77.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.01. Bristol-Myers Squibb had a net margin of 22.23% and a return on equity of 48.72%. The company had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same quarter last year, the firm earned $0.94 EPS. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. Research analysts expect that Bristol-Myers Squibb Co will post 4.18 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 41.21%.

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Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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