Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Bank of Stockton

Bank of Stockton lowered its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,796 shares of the biopharmaceutical company’s stock after selling 227 shares during the period. Bank of Stockton’s holdings in Bristol-Myers Squibb were worth $300,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BMY. Sunbelt Securities Inc. raised its position in Bristol-Myers Squibb by 19.1% during the 1st quarter. Sunbelt Securities Inc. now owns 10,080 shares of the biopharmaceutical company’s stock worth $547,000 after buying an additional 1,614 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Bristol-Myers Squibb by 19.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 461,514 shares of the biopharmaceutical company’s stock valued at $25,028,000 after purchasing an additional 74,486 shares in the last quarter. Hennessy Advisors Inc. increased its holdings in shares of Bristol-Myers Squibb by 45.7% in the 1st quarter. Hennessy Advisors Inc. now owns 104,000 shares of the biopharmaceutical company’s stock valued at $5,640,000 after purchasing an additional 32,600 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 45.8% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 8,103 shares of the biopharmaceutical company’s stock valued at $439,000 after purchasing an additional 2,547 shares in the last quarter. Finally, Register Financial Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at about $260,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BMY shares. Jefferies Financial Group increased 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 note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. TD Cowen increased 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 note on Monday, October 7th. BMO Capital Markets reissued a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Finally, Citigroup cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $75.00 to $55.00 in a research note on Friday. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.31.

Bristol-Myers Squibb Trading Down 1.5 %

Shares of BMY traded down $0.80 during mid-day trading on Friday, hitting $52.12. The company had a trading volume of 1,698,208 shares, compared to its average volume of 14,525,978. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $55.29. The business’s 50-day simple moving average is $50.70 and its 200-day simple moving average is $46.44. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The stock has a market cap of $105.65 billion, a PE ratio of -16.97, a P/E/G ratio of 13.75 and a beta of 0.46.

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

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.60%. 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.