Bristol-Myers Squibb (NYSE:BMY) Stake Lessened by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. trimmed its holdings in Bristol-Myers Squibb (NYSE:BMY) by 0.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 54,998 shares of the biopharmaceutical company’s stock after selling 288 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Bristol-Myers Squibb were worth $2,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in BMY. Northwest Financial Advisors acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at $27,000. ESL Trust Services LLC acquired a new position in Bristol-Myers Squibb during the 1st quarter valued at about $27,000. Accordant Advisory Group Inc bought a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth about $31,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth approximately $34,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $40,000. Institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on BMY. Wells Fargo & Company boosted their target price 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 cut their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Barclays lowered their target price on Bristol-Myers Squibb from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Cantor Fitzgerald reissued a “neutral” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a report on Monday. Finally, William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus target price of $57.73.

Bristol-Myers Squibb Stock Up 0.7 %

NYSE:BMY traded up $0.31 during trading hours on Tuesday, hitting $42.98. 17,199,590 shares of the stock traded hands, compared to its average volume of 15,691,333. The firm has a 50 day moving average price of $41.64 and a 200 day moving average price of $46.92. The firm has a market cap of $87.12 billion, a price-to-earnings ratio of -13.55, a PEG ratio of 15.55 and a beta of 0.44. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $65.38. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm had revenue of $11.87 billion for the quarter, compared to analyst estimates of $11.45 billion. During the same period in the previous year, the firm earned $2.05 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Bristol-Myers Squibb will post 0.55 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 Thursday, August 1st. Investors of record on Friday, July 5th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.58%. The ex-dividend date is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.