Bristol-Myers Squibb (NYSE:BMY) Stock Position Cut by Steph & Co.

Steph & Co. trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 23.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,578 shares of the biopharmaceutical company’s stock after selling 2,571 shares during the quarter. Steph & Co.’s holdings in Bristol-Myers Squibb were worth $440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Herold Advisors Inc. lifted its holdings in Bristol-Myers Squibb by 3.2% in the 3rd quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock valued at $1,954,000 after acquiring an additional 1,051 shares during the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of Bristol-Myers Squibb by 9.5% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock worth $8,115,000 after purchasing an additional 12,121 shares during the last quarter. Metis Global Partners LLC raised its holdings in shares of Bristol-Myers Squibb by 14.8% in the 3rd quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock worth $5,907,000 after purchasing an additional 13,122 shares in the last quarter. Jmac Enterprises LLC lifted its stake in Bristol-Myers Squibb by 11.4% during the third quarter. Jmac Enterprises LLC now owns 12,171 shares of the biopharmaceutical company’s stock valued at $706,000 after purchasing an additional 1,245 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in Bristol-Myers Squibb by 0.5% during the third quarter. Signaturefd LLC now owns 105,986 shares of the biopharmaceutical company’s stock worth $6,151,000 after buying an additional 564 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Down 0.9 %

BMY stock traded down $0.42 during mid-day trading on Wednesday, hitting $47.84. The stock had a trading volume of 11,723,377 shares, compared to its average volume of 15,847,039. The stock has a market capitalization of $96.96 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.46 and a beta of 0.39. The company has a fifty day moving average of $51.27 and a 200 day moving average of $51.62. Bristol-Myers Squibb has a 1-year low of $47.58 and a 1-year high of $70.93. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same period in the previous year, the company earned $1.82 earnings per share. The company’s revenue was up .6% compared to the same quarter last year. On average, equities analysts expect that Bristol-Myers Squibb will post 6.63 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business 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 dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.02%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 62.18%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BMY shares. Wells Fargo & Company dropped their price target on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 6th. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Bank of America downgraded 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 report on Wednesday, January 3rd. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $61.12.

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.