Alliancebernstein L.P. Reduces Position in Bristol-Myers Squibb (NYSE:BMY)

Alliancebernstein L.P. trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 11.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,850,171 shares of the biopharmaceutical company’s stock after selling 371,975 shares during the period. Alliancebernstein L.P. owned 0.13% of Bristol-Myers Squibb worth $168,645,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Penserra Capital Management LLC acquired a new position in Bristol-Myers Squibb in the second quarter worth about $27,000. PFG Private Wealth Management LLC acquired a new position in Bristol-Myers Squibb in the third quarter worth about $27,000. USA Financial Portformulas Corp grew its stake in Bristol-Myers Squibb by 1,748.9% in the third quarter. USA Financial Portformulas Corp now owns 832 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 787 shares in the last quarter. Destiny Wealth Partners LLC acquired a new position in Bristol-Myers Squibb in the third quarter worth about $53,000. Finally, Founders Capital Management grew its stake in Bristol-Myers Squibb by 80.2% in the third quarter. Founders Capital Management now owns 899 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

NYSE BMY opened at $64.93 on Friday. Bristol-Myers Squibb has a 1 year low of $53.22 and a 1 year high of $69.75. The business’s fifty day moving average is $59.93 and its two-hundred day moving average is $62.42. The company has a quick ratio of 1.36, a current ratio of 1.47 and a debt-to-equity ratio of 1.06.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Tuesday, October 26th. The biopharmaceutical company reported $2.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.92 by $0.08. The company had revenue of $11.62 billion for the quarter, compared to analysts’ expectations of $11.52 billion. Bristol-Myers Squibb had a positive return on equity of 43.05% and a negative net margin of 11.89%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 earnings per share. On average, equities analysts anticipate that Bristol-Myers Squibb will post 7.52 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 1st. Shareholders of record on Friday, January 7th will be paid a dividend of $0.54 per share. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.49. This represents a $2.16 annualized dividend and a yield of 3.33%. The ex-dividend date is Thursday, January 6th. Bristol-Myers Squibb’s payout ratio is -90.00%.

In other Bristol-Myers Squibb news, EVP Autenried Paul Von sold 18,363 shares of the business’s stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $57.17, for a total transaction of $1,049,812.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.11% of the stock is owned by insiders.

A number of equities analysts have commented on the company. BMO Capital Markets initiated coverage on Bristol-Myers Squibb in a research note on Thursday, November 18th. They issued an “outperform” rating and a $72.00 target price for the company. The Goldman Sachs Group initiated coverage on Bristol-Myers Squibb in a research report on Friday, December 17th. They set a “buy” rating and a $72.00 price objective for the company. Wells Fargo & Company initiated coverage on Bristol-Myers Squibb in a research report on Wednesday, December 8th. They set an “equal weight” rating and a $58.00 price objective for the company. Morgan Stanley reduced their price objective on Bristol-Myers Squibb from $71.00 to $66.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 12th. Finally, TheStreet upgraded Bristol-Myers Squibb from a “c+” rating to a “b” rating in a research report on Wednesday, November 17th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $66.80.

Bristol-Myers Squibb Company Profile

Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.

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

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