Commonwealth Equity Services LLC Decreases Holdings in Bristol-Myers Squibb (NYSE:BMY)

Commonwealth Equity Services LLC lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,106,759 shares of the biopharmaceutical company’s stock after selling 95,627 shares during the period. Commonwealth Equity Services LLC owned approximately 0.05% of Bristol-Myers Squibb worth $56,788,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BMY. OFI Invest Asset Management acquired a new position in Bristol-Myers Squibb during the 3rd quarter valued at approximately $25,000. Milestone Investment Advisors LLC purchased a new position in Bristol-Myers Squibb in the 3rd quarter worth $27,000. Blue Bell Private Wealth Management LLC lifted its position in Bristol-Myers Squibb by 61.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 200 shares during the period. Legacy Financial Group LLC purchased a new stake in Bristol-Myers Squibb during the 3rd quarter valued at about $39,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.7 %

BMY stock traded up $0.29 during midday trading on Friday, hitting $43.99. 12,104,489 shares of the company’s stock were exchanged, compared to its average volume of 14,314,010. Bristol-Myers Squibb has a 1-year low of $43.33 and a 1-year high of $69.10. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The business has a 50-day simple moving average of $50.52 and a two-hundred day simple moving average of $50.84.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share 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 analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the business earned $2.05 earnings per share. On average, analysts expect that Bristol-Myers Squibb will post 0.59 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.46%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BMY shares. BMO Capital Markets cut their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Barclays decreased 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, April 26th. Finally, Wells Fargo & Company raised their price objective 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 investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $60.00.

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.