Everett Harris & Co. CA Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Everett Harris & Co. CA lessened its stake in Bristol-Myers Squibb (NYSE:BMY) by 20.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,215 shares of the biopharmaceutical company’s stock after selling 3,367 shares during the quarter. Everett Harris & Co. CA’s holdings in Bristol-Myers Squibb were worth $678,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in Bristol-Myers Squibb during the 3rd quarter worth $25,000. True Wealth Design LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth $26,000. Milestone Investment Advisors LLC acquired a new stake in Bristol-Myers Squibb during the 3rd quarter worth $27,000. Coppell Advisory Solutions LLC acquired a new stake in Bristol-Myers Squibb during the 2nd quarter worth $28,000. Finally, Blue Bell Private Wealth Management LLC boosted its stake 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 purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 1.8 %

NYSE:BMY traded up $0.98 on Thursday, reaching $54.23. 14,346,012 shares of the company’s stock were exchanged, compared to its average volume of 16,860,898. The business has a fifty day moving average of $50.79 and a 200-day moving average of $52.44. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $71.07. The firm has a market capitalization of $109.91 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 1.59 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $11.19 billion. During the same period in the prior year, the firm earned $1.82 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. As a group, analysts expect that Bristol-Myers Squibb will post 6.61 earnings per share for the current year.

Bristol-Myers Squibb announced that its board has authorized a share buyback program on Thursday, December 7th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.43%. Bristol-Myers Squibb’s payout ratio is 62.18%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BMY shares. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 1st. Wells Fargo & Company lowered their price target on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 6th. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $61.12.

Bristol-Myers Squibb Company 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.