Bristol-Myers Squibb (NYSE:BMY) Shares Sold by MBA Advisors LLC

MBA Advisors LLC cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 23.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,155 shares of the biopharmaceutical company’s stock after selling 1,854 shares during the period. MBA Advisors LLC’s holdings in Bristol-Myers Squibb were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb during the 1st quarter valued at approximately $27,000. Northwest Financial Advisors acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $27,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $34,000. Fairman Group LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $42,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at approximately $47,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

BMY traded up $0.23 on Friday, hitting $49.95. 9,594,794 shares of the company’s stock were exchanged, compared to its average volume of 15,441,344. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.03. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 2.86. The firm has a 50-day moving average price of $45.01 and a 200-day moving average price of $46.59. The stock has a market cap of $101.25 billion, a price-to-earnings ratio of -16.11, a P/E/G ratio of 12.51 and a beta of 0.44.

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, topping the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.75 EPS. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 4.80%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Wall Street Analyst Weigh In

BMY has been the subject of several recent research reports. Barclays lifted their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. TD Cowen lifted their target price on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Jefferies Financial Group lifted their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $54.67.

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.