Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Kellett Wealth Advisors LLC

Kellett Wealth Advisors LLC trimmed its stake in Bristol-Myers Squibb (NYSE:BMY) by 9.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,579 shares of the biopharmaceutical company’s stock after selling 500 shares during the period. Kellett Wealth Advisors LLC’s holdings in Bristol-Myers Squibb were worth $235,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Dakota Wealth Management acquired a new stake in shares of Bristol-Myers Squibb in the first quarter worth $332,000. Covestor Ltd boosted its position in shares of Bristol-Myers Squibb by 111.5% in the first quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 1,082 shares during the period. NewEdge Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 53.2% in the first quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock worth $12,075,000 after buying an additional 57,444 shares during the period. Ergoteles LLC acquired a new stake in shares of Bristol-Myers Squibb in the first quarter worth $1,997,000. Finally, Mackenzie Financial Corp boosted its position in shares of Bristol-Myers Squibb by 25.1% in the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock worth $24,725,000 after buying an additional 68,018 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded up $0.46 during trading hours on Thursday, hitting $48.30. The stock had a trading volume of 10,908,240 shares, compared to its average volume of 15,781,828. The company has a 50-day moving average of $51.26 and a two-hundred day moving average of $51.59. 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 company has a market cap of $97.89 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.49 and a beta of 0.39. Bristol-Myers Squibb has a fifty-two week low of $47.58 and a fifty-two week high of $70.93.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.55 by $0.15. The firm had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.82 EPS. On average, equities research analysts anticipate that Bristol-Myers Squibb will post 6.47 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.97%. Bristol-Myers Squibb’s payout ratio is 62.18%.

Analysts Set New Price Targets

BMY has been the subject of several recent analyst reports. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Wells Fargo & Company lifted their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $61.18.

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.