Alpha Omega Wealth Management LLC Sells 300 Shares of Bristol-Myers Squibb (NYSE:BMY)

Alpha Omega Wealth Management LLC trimmed its holdings in Bristol-Myers Squibb (NYSE:BMY) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 37,645 shares of the biopharmaceutical company’s stock after selling 300 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $1,932,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth $1,873,696,000. Moneta Group Investment Advisors LLC increased its position in shares of Bristol-Myers Squibb by 114,228.7% during 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 purchasing an additional 21,451,006 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Bristol-Myers Squibb by 48.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,830,948 shares of the biopharmaceutical company’s stock worth $401,806,000 after purchasing an additional 2,540,360 shares during the period. AustralianSuper Pty Ltd purchased a new position in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $86,965,000. Finally, Cowa LLC grew its position in Bristol-Myers Squibb by 9,777.8% during the first quarter. Cowa LLC now owns 1,657,894 shares of the biopharmaceutical company’s stock valued at $1,211,000 after buying an additional 1,641,110 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BMY. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.12.

Bristol-Myers Squibb Stock Performance

BMY traded down $0.13 during midday trading on Wednesday, hitting $48.13. 6,215,091 shares of the company were exchanged, compared to its average volume of 15,770,368. The company’s 50 day simple moving average is $51.27 and its 200 day simple moving average is $51.62. The firm has a market capitalization of $97.55 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.46 and a beta of 0.39. Bristol-Myers Squibb has a 1-year low of $47.58 and a 1-year high of $70.93. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm had revenue of $11.48 billion during the quarter, compared to analyst estimates of $11.19 billion. During the same period in the previous year, the firm earned $1.82 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is 62.18%.

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.