Adell Harriman & Carpenter Inc. Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Adell Harriman & Carpenter Inc. trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 4.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,175 shares of the biopharmaceutical company’s stock after selling 235 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Bristol-Myers Squibb were worth $268,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BMY. Capital International Investors boosted its holdings in 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 worth $3,807,153,000 after buying an additional 8,675,322 shares during the last quarter. M&G Plc purchased a new stake in shares of Bristol-Myers Squibb during the first quarter worth approximately $392,608,000. Pzena Investment Management LLC raised its stake in Bristol-Myers Squibb by 119.8% in 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 last quarter. Price T Rowe Associates Inc. MD lifted its holdings in 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 valued at $680,469,000 after purchasing an additional 5,461,767 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Bristol-Myers Squibb by 86.3% during the 2nd quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock worth $313,398,000 after purchasing an additional 3,495,704 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report 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 target price on the stock. TD Cowen increased their price target on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. Jefferies Financial Group boosted their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, Citigroup lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the company from $75.00 to $55.00 in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $52.38.

Bristol-Myers Squibb Stock Up 0.3 %

Shares of NYSE:BMY opened at $52.68 on Thursday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $55.03. The firm has a market capitalization of $106.79 billion, a PE ratio of -16.99, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The firm’s 50-day moving average is $50.98 and its two-hundred day moving average is $46.48.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

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.