Whittier Trust Co. Sells 6,329 Shares of Bristol-Myers Squibb (NYSE:BMY)

Whittier Trust Co. cut its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,015 shares of the biopharmaceutical company’s stock after selling 6,329 shares during the quarter. Whittier Trust Co.’s holdings in Bristol-Myers Squibb were worth $3,881,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BMY. Global Assets Advisory LLC bought a new stake in Bristol-Myers Squibb in the first quarter worth $5,161,000. Lincoln National Corp boosted its holdings in Bristol-Myers Squibb by 7.7% during the 1st quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after acquiring an additional 3,052 shares during the period. Chapin Davis Inc. increased its stake in Bristol-Myers Squibb by 22.6% in the 1st quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock worth $1,223,000 after purchasing an additional 4,159 shares during the period. Accel Wealth Management lifted its position in Bristol-Myers Squibb by 19.0% in the first quarter. Accel Wealth Management now owns 4,934 shares of the biopharmaceutical company’s stock valued at $268,000 after purchasing an additional 788 shares during the last quarter. Finally, Brookstone Capital Management boosted its stake in shares of Bristol-Myers Squibb by 36.4% during the first quarter. Brookstone Capital Management now owns 150,037 shares of the biopharmaceutical company’s stock valued at $8,137,000 after purchasing an additional 40,018 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on BMY. UBS Group lifted their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price objective 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. Finally, BMO Capital Markets restated a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $53.20.

Bristol-Myers Squibb Stock Down 2.1 %

Shares of NYSE:BMY opened at $52.11 on Tuesday. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $56.77. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The stock has a fifty day simple moving average of $50.46 and a two-hundred day simple moving average of $46.34. The stock has a market capitalization of $105.63 billion, a price-to-earnings ratio of -16.81, a PEG ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same period last year, the business earned $1.75 EPS. Bristol-Myers Squibb’s revenue was up 8.7% compared to the same quarter last year. On average, research analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.61%. Bristol-Myers Squibb’s dividend payout ratio is -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.