Pekin Hardy Strauss Inc. Sells 8,274 Shares of Bristol-Myers Squibb (NYSE:BMY)

Pekin Hardy Strauss Inc. lessened its stake in Bristol-Myers Squibb (NYSE:BMY) by 24.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,952 shares of the biopharmaceutical company’s stock after selling 8,274 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Bristol-Myers Squibb were worth $1,078,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Traynor Capital Management Inc. boosted its stake in shares of Bristol-Myers Squibb by 2.8% during the first quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock valued at $416,000 after purchasing an additional 207 shares during the period. Paragon Capital Management LLC raised its stake in shares of Bristol-Myers Squibb by 1.1% during the first quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock valued at $1,112,000 after acquiring an additional 222 shares during the last quarter. OmniStar Financial Group Inc. boosted its holdings in shares of Bristol-Myers Squibb by 1.7% during the second quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock worth $553,000 after purchasing an additional 224 shares during the period. LGT Financial Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the last quarter. Finally, Bell Investment Advisors Inc increased its holdings in Bristol-Myers Squibb by 18.1% during the 1st quarter. Bell Investment Advisors Inc now owns 1,537 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 236 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Down 1.0 %

Shares of Bristol-Myers Squibb stock opened at $49.49 on Wednesday. The company has a 50-day simple moving average of $47.16 and a two-hundred day simple moving average of $46.46. The stock has a market capitalization of $100.32 billion, a PE ratio of -15.96, a price-to-earnings-growth ratio of 12.59 and a beta of 0.46. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $59.46. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The company had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.75 EPS. On average, analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Wall Street Analyst Weigh In

Several research firms have weighed in on BMY. Deutsche Bank Aktiengesellschaft dropped their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Jefferies Financial Group boosted their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Barclays lifted their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Monday. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $55.00.

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.