Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Abbrea Capital LLC

Abbrea Capital LLC cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 47.7% in the fourth quarter, HoldingsChannel reports. The firm owned 5,844 shares of the biopharmaceutical company’s stock after selling 5,320 shares during the period. Abbrea Capital LLC’s holdings in Bristol-Myers Squibb were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in Bristol-Myers Squibb during the third quarter valued at $25,000. Milestone Investment Advisors LLC purchased a new position in Bristol-Myers Squibb in the third quarter valued at $27,000. Blue Bell Private Wealth Management LLC increased its holdings in Bristol-Myers Squibb by 61.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 200 shares in the last quarter. Legacy Financial Group LLC purchased a new position in Bristol-Myers Squibb in the third quarter valued at $39,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Bristol-Myers Squibb in the fourth quarter valued at $40,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Down 8.5 %

NYSE:BMY traded down $4.16 on Thursday, hitting $44.70. The stock had a trading volume of 45,036,957 shares, compared to its average volume of 15,901,483. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. The stock has a market cap of $90.60 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.48 and a beta of 0.39. The company has a fifty day moving average price of $51.22 and a two-hundred day moving average price of $51.31. Bristol-Myers Squibb has a 1-year low of $44.37 and a 1-year high of $69.74.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. Bristol-Myers Squibb’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.05 EPS. Equities research analysts expect that Bristol-Myers Squibb will post 6.63 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.37%. Bristol-Myers Squibb’s payout ratio is 62.18%.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of recent analyst reports. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their target price for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $61.18.

Bristol-Myers Squibb Company 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.