Clifford Swan Investment Counsel LLC Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

Clifford Swan Investment Counsel LLC lowered its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 423,824 shares of the biopharmaceutical company’s stock after selling 14,923 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Bristol-Myers Squibb were worth $21,746,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of BMY. Lindbrook Capital LLC lifted its position in Bristol-Myers Squibb by 2.3% in the 3rd quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock valued at $468,000 after purchasing an additional 182 shares during the last quarter. Addison Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 6.6% in the third quarter. Addison Advisors LLC now owns 3,120 shares of the biopharmaceutical company’s stock valued at $181,000 after purchasing an additional 192 shares during the period. Symphony Financial Ltd. Co. raised its holdings in shares of Bristol-Myers Squibb by 4.1% during the third quarter. Symphony Financial Ltd. Co. now owns 4,980 shares of the biopharmaceutical company’s stock valued at $288,000 after buying an additional 194 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its position in shares of Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 200 shares during the period. Finally, AMG National Trust Bank grew its holdings in Bristol-Myers Squibb by 1.0% in the 3rd quarter. AMG National Trust Bank now owns 19,685 shares of the biopharmaceutical company’s stock worth $1,143,000 after buying an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.7 %

Shares of NYSE BMY traded up $0.29 during trading hours on Friday, hitting $43.99. The stock had a trading volume of 12,104,489 shares, compared to its average volume of 14,314,010. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The company has a market capitalization of $89.17 billion, a P/E ratio of -14.19, a P/E/G ratio of 14.82 and a beta of 0.45. Bristol-Myers Squibb has a 52 week low of $43.33 and a 52 week high of $69.10. The firm’s 50-day moving average price is $50.37 and its two-hundred day moving average price is $50.65.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping the consensus estimate of ($4.53) by $0.13. The firm had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 earnings per share. Analysts anticipate that Bristol-Myers Squibb will post 0.59 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.46%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analysts Set New Price Targets

Several analysts have weighed in on BMY shares. Wells Fargo & Company lifted their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. BMO Capital Markets decreased their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. Finally, Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.