State of Alaska Department of Revenue Has $28.19 Million Stock Position in Bristol-Myers Squibb (NYSE:BMY)

State of Alaska Department of Revenue lessened its stake in Bristol-Myers Squibb (NYSE:BMY) by 4.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 549,352 shares of the biopharmaceutical company’s stock after selling 24,110 shares during the quarter. State of Alaska Department of Revenue’s holdings in Bristol-Myers Squibb were worth $28,186,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BMY. State Street Corp grew its stake in shares of Bristol-Myers Squibb by 0.9% during the 2nd quarter. State Street Corp now owns 92,570,288 shares of the biopharmaceutical company’s stock worth $5,919,870,000 after acquiring an additional 858,922 shares in the last quarter. Norges Bank acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at $1,873,696,000. Northern Trust Corp lifted its position in Bristol-Myers Squibb by 5.8% during the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after buying an additional 1,394,158 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 114,228.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock valued at $1,544,751,000 after acquiring an additional 21,451,006 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Bristol-Myers Squibb by 8.6% during the third quarter. Invesco Ltd. now owns 15,606,587 shares of the biopharmaceutical company’s stock worth $905,806,000 after acquiring an additional 1,240,902 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BMY shares. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 1st. Wells Fargo & Company dropped their price target on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 6th. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Finally, Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. One 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.12.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock traded up $0.98 on Friday, reaching $54.23. 14,348,196 shares of the stock were exchanged, compared to its average volume of 20,769,094. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The firm has a market cap of $109.91 billion, a PE ratio of 14.05, a P/E/G ratio of 1.61 and a beta of 0.38. The firm’s 50 day moving average is $50.87 and its 200-day moving average is $52.45. Bristol-Myers Squibb has a one year low of $47.58 and a one year high of $71.07.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The firm had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same period in the prior year, the company earned $1.82 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. As a group, analysts anticipate that Bristol-Myers Squibb will post 6.61 EPS for the current fiscal year.

Bristol-Myers Squibb declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 7th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the biopharmaceutical company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.43%. Bristol-Myers Squibb’s payout ratio is currently 62.18%.

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.