Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Welch Group LLC

Welch Group LLC lowered its position in Bristol-Myers Squibb (NYSE:BMY) by 7.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,879 shares of the biopharmaceutical company’s stock after selling 1,005 shares during the quarter. Welch Group LLC’s holdings in Bristol-Myers Squibb were worth $666,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb during the 3rd quarter worth approximately $25,000. Hollencrest Capital Management increased its stake in Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 187 shares during the period. Kennebec Savings Bank purchased a new position in Bristol-Myers Squibb during the third quarter worth about $28,000. Darwin Wealth Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $29,000. Finally, Valued Wealth Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BMY shares. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their target price for the company from $63.00 to $70.00 in a report on Monday, December 16th. Barclays boosted their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Bank of America reissued a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Finally, Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.60.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $60.03 on Tuesday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The firm has a fifty day simple moving average of $57.60 and a 200 day simple moving average of $53.34. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.13%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is presently -69.08%.

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.