Sompo Japan Nipponkoa Asset Management CO. LTD. Decreases Stake in Bristol-Myers Squibb Co (NYSE:BMY)

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Sompo Japan Nipponkoa Asset Management CO. LTD. cut its holdings in Bristol-Myers Squibb Co (NYSE:BMY) by 34.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,950 shares of the biopharmaceutical company’s stock after selling 43,030 shares during the quarter. Bristol-Myers Squibb accounts for 1.2% of Sompo Japan Nipponkoa Asset Management CO. LTD.’s portfolio, making the stock its 29th biggest holding. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Bristol-Myers Squibb were worth $4,568,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of BMY. MainStreet Investment Advisors LLC raised its holdings in shares of Bristol-Myers Squibb by 320.2% in the first quarter. MainStreet Investment Advisors LLC now owns 18,171 shares of the biopharmaceutical company’s stock worth $1,013,000 after acquiring an additional 13,847 shares during the last quarter. Carderock Capital Management Inc. increased its stake in Bristol-Myers Squibb by 9.3% in the first quarter. Carderock Capital Management Inc. now owns 5,440 shares of the biopharmaceutical company’s stock valued at $303,000 after purchasing an additional 465 shares during the last quarter. Tredje AP fonden grew its position in Bristol-Myers Squibb by 26.3% during the first quarter. Tredje AP fonden now owns 364,929 shares of the biopharmaceutical company’s stock valued at $19,186,000 after acquiring an additional 76,048 shares during the period. Shell Asset Management Co. grew its position in Bristol-Myers Squibb by 5.4% during the first quarter. Shell Asset Management Co. now owns 192,102 shares of the biopharmaceutical company’s stock valued at $10,708,000 after acquiring an additional 9,770 shares during the period. Finally, Royal Fund Management LLC purchased a new stake in Bristol-Myers Squibb during the first quarter valued at about $4,578,000. Hedge funds and other institutional investors own 76.51% of the company’s stock.

NYSE BMY traded down $0.35 on Friday, hitting $60.79. 9,226,185 shares of the stock traded hands, compared to its average volume of 16,080,694. The stock has a 50-day moving average of $60.48 and a 200 day moving average of $60.71. Bristol-Myers Squibb Co has a twelve month low of $42.48 and a twelve month high of $68.34. The company has a market capitalization of $138.34 billion, a P/E ratio of 75.05, a price-to-earnings-growth ratio of 1.18 and a beta of 0.74. The company has a current ratio of 1.66, a quick ratio of 1.51 and a debt-to-equity ratio of 0.86.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.23. Bristol-Myers Squibb had a return on equity of 30.06% and a net margin of 3.08%. The firm had revenue of $10.78 billion for the quarter, compared to analysts’ expectations of $10.04 billion. During the same quarter in the prior year, the firm posted $1.10 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 82.1% compared to the same quarter last year. As a group, equities research analysts expect that Bristol-Myers Squibb Co will post 6.15 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, April 3rd were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Thursday, April 2nd. Bristol-Myers Squibb’s payout ratio is 38.38%.

BMY has been the topic of several recent analyst reports. TheStreet cut Bristol-Myers Squibb from a “b-” rating to a “c+” rating in a research note on Monday, April 13th. Morgan Stanley upgraded Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and set a $64.00 price target on the stock in a research note on Thursday, April 2nd. Barclays initiated coverage on Bristol-Myers Squibb in a research note on Thursday, February 27th. They issued an “equal weight” rating and a $69.00 price target on the stock. Cfra boosted their price target on Bristol-Myers Squibb from $69.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, William Blair reiterated a “buy” rating on shares of Bristol-Myers Squibb in a research note on Friday, May 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $65.38.

In other news, EVP Louis S. Schmukler sold 25,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $62.68, for a total transaction of $1,567,000.00. Following the sale, the executive vice president now directly owns 26,777 shares in the company, valued at approximately $1,678,382.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John E. Elicker sold 15,805 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $61.01, for a total value of $964,263.05. Following the sale, the executive vice president now owns 58,666 shares in the company, valued at $3,579,212.66. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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

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