Smallwood Wealth Investment Management LLC Sells 704 Shares of Bristol-Myers Squibb (NYSE:BMY)

Smallwood Wealth Investment Management LLC reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,680 shares of the biopharmaceutical company’s stock after selling 704 shares during the quarter. Smallwood Wealth Investment Management LLC’s holdings in Bristol-Myers Squibb were worth $346,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Traynor Capital Management Inc. boosted its holdings in shares of Bristol-Myers Squibb by 2.8% in the 1st quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock worth $416,000 after purchasing an additional 207 shares in the last quarter. Paragon Capital Management LLC boosted its holdings in Bristol-Myers Squibb by 1.1% during the 1st 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 period. OmniStar Financial Group Inc. boosted its holdings in Bristol-Myers Squibb by 1.7% during the 2nd quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock valued at $553,000 after acquiring an additional 224 shares during the period. LGT Financial Advisors LLC boosted its holdings in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 227 shares during the period. Finally, Bell Investment Advisors Inc boosted 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 acquiring an additional 236 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Down 0.4 %

Shares of NYSE:BMY opened at $53.18 on Friday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $57.59. The business has a 50 day simple moving average of $50.23 and a two-hundred day simple moving average of $46.41. The firm has a market capitalization of $107.80 billion, a PE ratio of -17.15, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results 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. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.75 earnings per share. On average, equities analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BMY. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a report on Thursday. They set a “market perform” rating and a $56.00 target price for the company. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 16th. UBS Group upped their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Barclays increased their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $53.20.

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.