E&G Advisors LP Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

E&G Advisors LP lowered its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 22.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,251 shares of the biopharmaceutical company’s stock after selling 1,200 shares during the quarter. E&G Advisors LP’s holdings in Bristol-Myers Squibb were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Childress Capital Advisors LLC increased its stake in Bristol-Myers Squibb by 17.6% during the 4th quarter. Childress Capital Advisors LLC now owns 7,018 shares of the biopharmaceutical company’s stock valued at $397,000 after purchasing an additional 1,051 shares in the last quarter. F&V Capital Management LLC boosted its position in shares of Bristol-Myers Squibb by 0.9% during the 4th quarter. F&V Capital Management LLC now owns 172,158 shares of the biopharmaceutical company’s stock worth $9,737,000 after acquiring an additional 1,600 shares in the last quarter. GEN Financial Management INC. purchased a new stake in Bristol-Myers Squibb in the 4th quarter valued at $222,000. Fourpath Capital Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 1.9% in the fourth quarter. Fourpath Capital Management LLC now owns 24,549 shares of the biopharmaceutical company’s stock valued at $1,388,000 after acquiring an additional 466 shares in the last quarter. Finally, Optas LLC acquired a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $259,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $60.03 on Tuesday. The firm’s fifty day simple moving average is $57.60 and its 200 day simple moving average is $53.34. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The firm has a market capitalization of $121.76 billion, a PE ratio of -16.72, a PEG ratio of 2.10 and a beta of 0.45. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.10.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend was Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

Analyst Ratings Changes

Several brokerages have weighed in on BMY. Morgan Stanley lifted their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Barclays raised 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. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Finally, BMO Capital Markets raised their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $56.60.

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.