TRUE Private Wealth Advisors Trims Stock Position in Bristol-Myers Squibb (NYSE:BMY)

TRUE Private Wealth Advisors lessened its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 77.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,758 shares of the biopharmaceutical company’s stock after selling 48,125 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Bristol-Myers Squibb were worth $706,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dakota Wealth Management purchased a new stake in Bristol-Myers Squibb in the 1st quarter valued at $332,000. Covestor Ltd raised its position in Bristol-Myers Squibb by 111.5% in the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 1,082 shares during the last quarter. NewEdge Advisors LLC raised its position in Bristol-Myers Squibb by 53.2% in the 1st quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after purchasing an additional 57,444 shares during the last quarter. Ergoteles LLC purchased a new stake in Bristol-Myers Squibb in the 1st quarter valued at $1,997,000. Finally, Mackenzie Financial Corp raised its position in Bristol-Myers Squibb by 25.1% during the 1st quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock worth $24,725,000 after buying an additional 68,018 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock opened at $47.83 on Thursday. The stock’s 50-day moving average is $51.26 and its 200-day moving average is $51.59. The company has a market cap of $96.94 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.49 and a beta of 0.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. Bristol-Myers Squibb has a 12 month low of $47.58 and a 12 month high of $70.93.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.55 by $0.15. The business had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company’s revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $1.82 EPS. Equities analysts anticipate that Bristol-Myers Squibb will post 6.47 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.02%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

Analysts Set New Price Targets

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

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.