Allstate Corp Has $280,000 Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Allstate Corp cut its position in Bristol-Myers Squibb (NYSE:BMY) by 17.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,460 shares of the biopharmaceutical company’s stock after selling 1,117 shares during the period. Allstate Corp’s holdings in Bristol-Myers Squibb were worth $280,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Frazier Financial Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $47,000. Tidemark LLC acquired a new position in Bristol-Myers Squibb during the 4th quarter valued at about $84,000. Delta Asset Management LLC TN boosted its stake in Bristol-Myers Squibb by 7.6% during the 4th quarter. Delta Asset Management LLC TN now owns 77,464 shares of the biopharmaceutical company’s stock valued at $3,975,000 after purchasing an additional 5,488 shares during the last quarter. Alpha Family Trust acquired a new position in Bristol-Myers Squibb during the 4th quarter valued at about $365,000. Finally, Financial Advisors Network Inc. boosted its stake in Bristol-Myers Squibb by 5.9% during the 4th quarter. Financial Advisors Network Inc. now owns 4,554 shares of the biopharmaceutical company’s stock valued at $234,000 after purchasing an additional 254 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock traded down $0.18 during trading on Friday, hitting $41.36. The stock had a trading volume of 6,161,908 shares, compared to its average volume of 15,403,700. The firm has a market cap of $83.84 billion, a price-to-earnings ratio of -13.30, a P/E/G ratio of 14.33 and a beta of 0.45. Bristol-Myers Squibb has a 12 month low of $41.07 and a 12 month high of $66.46. The business’s 50-day moving average is $48.02 and its 200 day moving average is $49.74. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same period in the previous year, the business earned $2.05 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.80%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BMY shares. Wells Fargo & Company lifted their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. BMO Capital Markets cut their target price on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Barclays cut their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Finally, William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $60.00.

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.