Cornerstone Capital Inc. decreased its position in Bristol-Myers Squibb Company (NYSE:BMY) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,471 shares of the biopharmaceutical company’s stock after selling 3,185 shares during the period. Bristol-Myers Squibb Company makes up approximately 2.4% of Cornerstone Capital Inc.’s holdings, making the stock its 21st largest position. Cornerstone Capital Inc.’s holdings in Bristol-Myers Squibb Company were worth $11,187,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BMY. Bank of Montreal Can bought a new stake in Bristol-Myers Squibb Company during the second quarter worth $154,732,000. IBM Retirement Fund raised its stake in Bristol-Myers Squibb Company by 1.1% in the second quarter. IBM Retirement Fund now owns 219,448 shares of the biopharmaceutical company’s stock worth $16,627,000 after buying an additional 2,421 shares in the last quarter. Essex Investment Management Co. LLC raised its stake in Bristol-Myers Squibb Company by 0.3% in the second quarter. Essex Investment Management Co. LLC now owns 225,829 shares of the biopharmaceutical company’s stock worth $16,610,000 after buying an additional 574 shares in the last quarter. HL Financial Services LLC raised its stake in Bristol-Myers Squibb Company by 0.8% in the second quarter. HL Financial Services LLC now owns 360,221 shares of the biopharmaceutical company’s stock worth $26,494,000 after buying an additional 2,901 shares in the last quarter. Finally, PGGM Investments raised its stake in Bristol-Myers Squibb Company by 1.3% in the second quarter. PGGM Investments now owns 1,321,858 shares of the biopharmaceutical company’s stock worth $97,223,000 after buying an additional 17,200 shares in the last quarter. 68.81% of the stock is currently owned by institutional investors and hedge funds.

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

Bristol-Myers Squibb Company (NYSE:BMY) opened at 56.55 on Friday. The stock’s 50 day moving average is $57.86 and its 200-day moving average is $59.83. Bristol-Myers Squibb Company has a 52 week low of $49.03 and a 52 week high of $77.12. The stock has a market capitalization of $94.51 billion, a PE ratio of 28.29 and a beta of 0.94.

Bristol-Myers Squibb Company (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 27th. The biopharmaceutical company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.12. Bristol-Myers Squibb Company had a net margin of 18.54% and a return on equity of 28.98%. The business earned $4.83 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same period in the previous year, the business posted $0.39 EPS. The company’s quarterly revenue was up 21.0% on a year-over-year basis. Equities research analysts forecast that Bristol-Myers Squibb Company will post $2.86 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Friday, January 6th will be issued a $0.39 dividend. The ex-dividend date is Wednesday, January 4th. This is a positive change from Bristol-Myers Squibb Company’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 2.76%. Bristol-Myers Squibb Company’s payout ratio is 76.47%.

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A number of brokerages recently commented on BMY. Evercore ISI reiterated a “hold” rating and set a $55.00 target price on shares of Bristol-Myers Squibb Company in a research note on Sunday, January 8th. Zacks Investment Research downgraded shares of Bristol-Myers Squibb Company from a “buy” rating to a “hold” rating in a research note on Monday. Jefferies Group reiterated a “buy” rating and set a $69.00 target price on shares of Bristol-Myers Squibb Company in a research note on Thursday, January 5th. Vetr downgraded shares of Bristol-Myers Squibb Company from a “strong-buy” rating to a “buy” rating and set a $62.28 target price for the company. in a research note on Monday, December 12th. Finally, Cowen and Company set a $85.00 target price on shares of Bristol-Myers Squibb Company and gave the stock a “buy” rating in a research note on Thursday, December 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $65.89.

About Bristol-Myers Squibb Company

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.

5 Day Chart for NYSE:BMY

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