Linscomb Wealth Inc. Lowers Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Linscomb Wealth Inc. decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 11.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,987 shares of the biopharmaceutical company’s stock after selling 642 shares during the quarter. Linscomb Wealth Inc.’s holdings in Bristol-Myers Squibb were worth $207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb during the first quarter worth about $27,000. LGT Financial Advisors LLC raised its position in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 227 shares during the last quarter. Fairman Group LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth $42,000. Redmont Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb in the first quarter valued at about $47,000. Finally, Accent Capital Management LLC purchased a new stake in Bristol-Myers Squibb in the 4th quarter valued at approximately $46,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $48.59 on Thursday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The firm has a market cap of $98.50 billion, a PE ratio of -15.67, a P/E/G ratio of 12.62 and a beta of 0.46. The firm has a 50 day simple moving average of $46.44 and a 200-day simple moving average of $46.53. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.01.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $11.54 billion. During the same period in the previous year, the firm posted $1.75 EPS. Bristol-Myers Squibb’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. TD Cowen upped their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 12th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Cantor Fitzgerald reissued a “neutral” rating and set a $45.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Jefferies Financial Group increased 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, August 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on 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. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.