HM Payson & Co. Decreases Holdings in Bristol-Myers Squibb (NYSE:BMY)

HM Payson & Co. cut its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 90,286 shares of the biopharmaceutical company’s stock after selling 7,517 shares during the quarter. HM Payson & Co.’s holdings in Bristol-Myers Squibb were worth $4,671,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb in the first quarter worth approximately $27,000. LGT Financial Advisors LLC grew its holdings 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. ORG Wealth Partners LLC bought a new position in shares of Bristol-Myers Squibb in the third quarter worth approximately $34,000. MFA Wealth Advisors LLC bought a new position in shares of Bristol-Myers Squibb in the second quarter worth approximately $39,000. Finally, Beach Investment Counsel Inc. PA bought a new position in shares of Bristol-Myers Squibb in the second quarter worth approximately $42,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on BMY. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Barclays raised their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. TD Cowen boosted their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Finally, Citigroup lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $75.00 to $55.00 in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $52.38.

Bristol-Myers Squibb Stock Performance

Shares of BMY traded up $3.27 on Thursday, reaching $55.93. The company’s stock had a trading volume of 2,518,553 shares, compared to its average volume of 14,415,065. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The stock has a market capitalization of $113.38 billion, a P/E ratio of -16.99, a PEG ratio of 13.75 and a beta of 0.46. The stock’s 50 day simple moving average is $50.98 and its two-hundred day simple moving average is $46.48. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $56.20.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

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.