Argyle Capital Management Inc. Sells 8,150 Shares of Bristol-Myers Squibb (NYSE:BMY)

Argyle Capital Management Inc. decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 11.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,618 shares of the biopharmaceutical company’s stock after selling 8,150 shares during the quarter. Bristol-Myers Squibb accounts for approximately 1.4% of Argyle Capital Management Inc.’s portfolio, making the stock its 26th largest position. Argyle Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $3,316,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Strategic Blueprint LLC lifted its position in Bristol-Myers Squibb by 8.6% in the third quarter. Strategic Blueprint LLC now owns 5,440 shares of the biopharmaceutical company’s stock valued at $316,000 after purchasing an additional 431 shares during the last quarter. Connecticut Wealth Management LLC purchased a new stake in Bristol-Myers Squibb in the third quarter worth $240,000. Uncommon Cents Investing LLC purchased a new stake in Bristol-Myers Squibb in the third quarter worth $309,000. Quattro Financial Advisors LLC purchased a new stake in Bristol-Myers Squibb in the third quarter worth $2,612,000. Finally, Linden Thomas Advisory Services LLC lifted its stake in Bristol-Myers Squibb by 54.0% in the third quarter. Linden Thomas Advisory Services LLC now owns 38,449 shares of the biopharmaceutical company’s stock worth $2,232,000 after acquiring an additional 13,488 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock traded up $0.15 during trading hours on Friday, reaching $44.85. 21,281,927 shares of the stock traded hands, compared to its average volume of 12,141,314. The company has a 50 day moving average price of $51.03 and a 200 day moving average price of $51.10. The firm has a market capitalization of $90.90 billion, a price-to-earnings ratio of -14.47, a P/E/G ratio of 16.31 and a beta of 0.39. Bristol-Myers Squibb has a one year low of $44.34 and a one year high of $69.10. 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 (NYSE:BMY) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The business had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 50.04% and a negative net margin of 13.50%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.05 EPS. On average, equities research analysts expect that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.35%. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of research analyst reports. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Barclays lowered their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday. Wells Fargo & Company raised 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, April 18th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Finally, Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $60.00.

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.