Carret Asset Management LLC Sells 1,580 Shares of Bristol Myers Squibb Company $BMY

Carret Asset Management LLC reduced its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 3.1% in the second quarter, HoldingsChannel.com reports. The firm owned 49,107 shares of the biopharmaceutical company’s stock after selling 1,580 shares during the period. Carret Asset Management LLC’s holdings in Bristol Myers Squibb were worth $2,273,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Bristol Myers Squibb by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company’s stock worth $11,673,669,000 after purchasing an additional 1,458,488 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Bristol Myers Squibb by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company’s stock worth $3,696,415,000 after purchasing an additional 306,430 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Bristol Myers Squibb by 8.6% during the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company’s stock worth $1,638,501,000 after purchasing an additional 2,131,205 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Bristol Myers Squibb by 5.3% in the first quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company’s stock valued at $1,584,185,000 after acquiring an additional 1,316,144 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Bristol Myers Squibb by 297.0% in the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock valued at $1,447,198,000 after acquiring an additional 17,750,938 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Stock Down 0.5%

BMY opened at $42.62 on Thursday. The stock has a market cap of $86.74 billion, a PE ratio of 17.18, a P/E/G ratio of 2.24 and a beta of 0.33. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 52 week low of $42.52 and a 52 week high of $63.33. The business’s fifty day simple moving average is $45.43 and its 200 day simple moving average is $46.87.

Bristol Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.39. The business had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The firm’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.07 earnings per share. As a group, research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 3rd will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.8%. Bristol Myers Squibb’s dividend payout ratio (DPR) is presently 100.00%.

Insider Activity

In related news, EVP David V. Elkins sold 56,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total value of $2,650,480.00. Following the sale, the executive vice president directly owned 167,379 shares of the company’s stock, valued at $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BMY. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bristol Myers Squibb in a report on Tuesday, October 14th. Morgan Stanley restated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Dbs Bank upgraded Bristol Myers Squibb to a “moderate buy” rating in a research report on Thursday, October 2nd. Citigroup reaffirmed a “neutral” rating on shares of Bristol Myers Squibb in a report on Monday, October 13th. Finally, Daiwa America cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, Bristol Myers Squibb presently has a consensus rating of “Hold” and a consensus price target of $57.23.

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.