Homestead Advisers Corp Sells 539,800 Shares of Bristol Myers Squibb Company $BMY

Homestead Advisers Corp reduced its position in Bristol Myers Squibb Company (NYSE:BMY) by 56.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 424,389 shares of the biopharmaceutical company’s stock after selling 539,800 shares during the period. Homestead Advisers Corp’s holdings in Bristol Myers Squibb were worth $19,140,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMY. Vanguard Group Inc. boosted its stake in Bristol Myers Squibb by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 194,925,206 shares of the biopharmaceutical company’s stock valued at $9,023,088,000 after purchasing an additional 3,522,202 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Bristol Myers Squibb by 16.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock valued at $3,277,456,000 after buying an additional 10,195,775 shares during the last quarter. Geode Capital Management LLC grew its holdings in Bristol Myers Squibb by 1.6% during the second quarter. Geode Capital Management LLC now owns 46,176,690 shares of the biopharmaceutical company’s stock worth $2,132,976,000 after buying an additional 723,459 shares in the last quarter. Norges Bank purchased a new stake in Bristol Myers Squibb in the 2nd quarter valued at $1,554,154,000. Finally, Ameriprise Financial Inc. lifted its stake in Bristol Myers Squibb by 1.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 32,579,618 shares of the biopharmaceutical company’s stock valued at $1,508,099,000 after acquiring an additional 432,158 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BMY has been the subject of several recent analyst reports. Leerink Partners upped their target price on shares of Bristol Myers Squibb from $54.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 13th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research report on Monday, November 3rd. Bank of America raised shares of Bristol Myers Squibb from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $61.00 in a research report on Monday, December 15th. UBS Group raised Bristol Myers Squibb from a “neutral” rating to a “buy” rating and upped their target price for the company from $46.00 to $65.00 in a report on Wednesday, January 7th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $60.00 price target (up from $53.00) on shares of Bristol Myers Squibb in a research report on Friday, January 9th. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bristol Myers Squibb has an average rating of “Hold” and an average price target of $57.43.

Bristol Myers Squibb Trading Up 3.1%

Shares of BMY stock opened at $57.70 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 2.39. The firm has a market cap of $117.46 billion, a P/E ratio of 19.49, a PEG ratio of 0.17 and a beta of 0.29. The company has a 50 day moving average of $53.88 and a 200-day moving average of $48.85. Bristol Myers Squibb Company has a 12-month low of $42.52 and a 12-month high of $63.33.

Bristol Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Friday, January 2nd were paid a $0.63 dividend. The ex-dividend date was Friday, January 2nd. This is a boost from Bristol Myers Squibb’s previous quarterly dividend of $0.62. This represents a $2.52 annualized dividend and a dividend yield of 4.4%. Bristol Myers Squibb’s dividend payout ratio is presently 85.14%.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.