Bristol-Myers Squibb (NYSE:BMY) Shares Sold by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,629 shares of the biopharmaceutical company’s stock after selling 1,202 shares during the period. J.W. Cole Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $1,654,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BMY. Hartline Investment Corp boosted its stake in Bristol-Myers Squibb by 387.5% during the first quarter. Hartline Investment Corp now owns 19,099 shares of the biopharmaceutical company’s stock valued at $1,036,000 after buying an additional 15,181 shares in the last quarter. Longbow Finance SA acquired a new position in shares of Bristol-Myers Squibb in the 1st quarter valued at $1,730,000. Norden Group LLC boosted its position in Bristol-Myers Squibb by 30.2% during the 1st quarter. Norden Group LLC now owns 13,846 shares of the biopharmaceutical company’s stock worth $751,000 after acquiring an additional 3,213 shares during the period. Van ECK Associates Corp boosted its position in Bristol-Myers Squibb by 97.2% during the 1st quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock worth $431,084,000 after acquiring an additional 3,918,234 shares during the period. Finally, HB Wealth Management LLC boosted its position in Bristol-Myers Squibb by 6.8% during the 1st quarter. HB Wealth Management LLC now owns 69,801 shares of the biopharmaceutical company’s stock worth $3,785,000 after acquiring an additional 4,451 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of recent analyst reports. Barclays cut their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 27th. BMO Capital Markets decreased their price target on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Finally, Wells Fargo & Company lifted their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock traded down $0.41 during trading hours on Friday, reaching $39.66. The company had a trading volume of 12,822,539 shares, compared to its average volume of 15,717,479. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $65.38. The business has a fifty day simple moving average of $42.37 and a 200 day simple moving average of $47.86. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The firm has a market cap of $80.38 billion, a PE ratio of -12.72, a price-to-earnings-growth ratio of 13.71 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The company had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same quarter last year, the company earned $2.05 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts anticipate that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 6.05%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

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.