Orca Investment Management LLC Trims Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Orca Investment Management LLC decreased its position in Bristol-Myers Squibb (NYSE:BMY) by 2.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 37,400 shares of the biopharmaceutical company’s stock after selling 908 shares during the period. Bristol-Myers Squibb comprises approximately 1.8% of Orca Investment Management LLC’s investment portfolio, making the stock its 18th biggest holding. Orca Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $1,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. raised its stake in shares of Bristol-Myers Squibb by 10.2% during the 4th quarter. Mid American Wealth Advisory Group Inc. now owns 83,155 shares of the biopharmaceutical company’s stock valued at $4,050,000 after buying an additional 7,688 shares during the last quarter. Choreo LLC raised its stake in shares of Bristol-Myers Squibb by 2.9% during the 4th quarter. Choreo LLC now owns 88,442 shares of the biopharmaceutical company’s stock valued at $4,538,000 after buying an additional 2,492 shares during the last quarter. Mather Group LLC. raised its stake in shares of Bristol-Myers Squibb by 7.1% during the 4th quarter. Mather Group LLC. now owns 25,721 shares of the biopharmaceutical company’s stock valued at $1,320,000 after buying an additional 1,696 shares during the last quarter. Eagle Wealth Strategies LLC purchased a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at about $201,000. Finally, Retirement Systems of Alabama raised its stake in shares of Bristol-Myers Squibb by 5.0% during the 4th quarter. Retirement Systems of Alabama now owns 1,365,559 shares of the biopharmaceutical company’s stock valued at $70,067,000 after buying an additional 65,492 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded down $0.19 during trading hours on Monday, reaching $44.66. The company had a trading volume of 11,913,597 shares, compared to its average volume of 15,909,765. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The stock has a fifty day moving average of $51.03 and a 200-day moving average of $51.10. The company has a market capitalization of $90.53 billion, a price-to-earnings ratio of -14.41, a PEG ratio of 15.47 and a beta of 0.39. Bristol-Myers Squibb has a 12-month low of $44.34 and a 12-month high of $69.10.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.05 earnings per share. On average, equities analysts anticipate that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.37%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BMY shares. Barclays reduced their price target on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday. Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Wells Fargo & Company upped their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. BMO Capital Markets reduced their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday. Finally, Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $60.00.

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.