Hartford Investment Management Co. Sells 2,229 Shares of Bristol-Myers Squibb (NYSE:BMY)

Hartford Investment Management Co. decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 127,447 shares of the biopharmaceutical company’s stock after selling 2,229 shares during the period. Hartford Investment Management Co.’s holdings in Bristol-Myers Squibb were worth $6,594,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Paragon Capital Management LLC boosted its position in shares of Bristol-Myers Squibb by 1.1% during the 1st quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock worth $1,112,000 after purchasing an additional 222 shares in the last quarter. OmniStar Financial Group Inc. boosted its holdings in Bristol-Myers Squibb by 1.7% during the second quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock worth $553,000 after buying an additional 224 shares in the last quarter. LGT Financial Advisors LLC increased its holdings in Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 227 shares in the last quarter. Cassia Capital Partners LLC raised its holdings in Bristol-Myers Squibb by 2.9% during the third quarter. Cassia Capital Partners LLC now owns 8,222 shares of the biopharmaceutical company’s stock worth $425,000 after purchasing an additional 235 shares during the last quarter. Finally, Tempus Wealth Planning LLC boosted its position in shares of Bristol-Myers Squibb by 1.5% in the 3rd quarter. Tempus Wealth Planning LLC now owns 15,648 shares of the biopharmaceutical company’s stock worth $810,000 after buying an additional 235 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BMY has been the topic of several research reports. TD Cowen increased their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Jefferies Financial Group upped their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Barclays boosted their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Finally, StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $53.20.

Bristol-Myers Squibb Stock Performance

NYSE BMY traded up $0.10 during trading hours on Wednesday, hitting $52.86. The company had a trading volume of 625,993 shares, compared to its average volume of 14,599,044. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $56.77. The business has a fifty day simple moving average of $50.53 and a 200-day simple moving average of $46.35. The firm has a market cap of $107.15 billion, a P/E ratio of -17.02, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The firm had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same period last year, the firm earned $1.75 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. Equities analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

About Bristol-Myers Squibb

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.