Bristol-Myers Squibb (NYSE:BMY) Holdings Lowered by Indiana Trust & Investment Management Co

Indiana Trust & Investment Management Co decreased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 14.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,109 shares of the biopharmaceutical company’s stock after selling 1,982 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in Bristol-Myers Squibb were worth $627,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Global Assets Advisory LLC acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter worth about $5,161,000. Lincoln National Corp increased its position in Bristol-Myers Squibb by 7.7% during the 1st quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock worth $2,326,000 after purchasing an additional 3,052 shares in the last quarter. Chapin Davis Inc. boosted its position in Bristol-Myers Squibb by 22.6% during the 1st quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock worth $1,223,000 after buying an additional 4,159 shares during the period. Accel Wealth Management increased its position in Bristol-Myers Squibb by 19.0% during the 1st quarter. Accel Wealth Management now owns 4,934 shares of the biopharmaceutical company’s stock valued at $268,000 after purchasing an additional 788 shares during the period. Finally, Brookstone Capital Management lifted its stake in Bristol-Myers Squibb by 36.4% in the first quarter. Brookstone Capital Management now owns 150,037 shares of the biopharmaceutical company’s stock valued at $8,137,000 after buying an additional 40,018 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Up 1.3 %

Shares of NYSE:BMY traded up $0.67 during midday trading on Wednesday, reaching $53.43. The company’s stock had a trading volume of 2,759,308 shares, compared to its average volume of 14,799,843. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $57.65. The business has a 50 day moving average price of $49.97 and a 200 day moving average price of $46.32. The firm has a market cap of $108.31 billion, a price-to-earnings ratio of -17.02, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The firm had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter in the prior year, the firm posted $1.75 earnings per share. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business 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. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.49%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Upgrades and Downgrades

BMY has been the subject of several analyst reports. Barclays increased their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. UBS Group upped their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 16th. Finally, TD Cowen upped their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $53.00.

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.