Soltis Investment Advisors LLC Lowers Holdings in Bristol-Myers Squibb (NYSE:BMY)

Soltis Investment Advisors LLC decreased its stake in Bristol-Myers Squibb (NYSE:BMY) by 24.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,178 shares of the biopharmaceutical company’s stock after selling 2,038 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $335,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Capital International Investors raised its holdings in Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after purchasing an additional 8,675,322 shares during the period. Norges Bank acquired a new position in Bristol-Myers Squibb in the 4th quarter worth about $1,560,524,000. Primecap Management Co. CA raised its holdings in Bristol-Myers Squibb by 14.6% in the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after purchasing an additional 2,998,228 shares during the period. Dimensional Fund Advisors LP raised its holdings in Bristol-Myers Squibb by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock worth $870,198,000 after purchasing an additional 1,246,066 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Bristol-Myers Squibb by 77.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after purchasing an additional 5,461,767 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 1.2 %

Bristol-Myers Squibb stock traded up $0.60 during midday trading on Friday, reaching $48.77. The company’s stock had a trading volume of 15,601,503 shares, compared to its average volume of 17,378,216. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $63.41. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The company has a market cap of $98.88 billion, a P/E ratio of -15.73, a P/E/G ratio of 12.51 and a beta of 0.44. The business has a 50-day simple moving average of $42.39 and a 200-day simple moving average of $46.75.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same period last year, the firm earned $1.75 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts expect that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Analyst Ratings Changes

A number of brokerages have commented on BMY. Barclays cut Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 target price for the company. in a report on Monday, July 29th. Wells Fargo & Company increased their target price 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. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $55.79.

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.