Castle Rock Wealth Management LLC Lowers Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Castle Rock Wealth Management LLC lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 5.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,891 shares of the biopharmaceutical company’s stock after selling 476 shares during the period. Castle Rock Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $482,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. ESL Trust Services LLC acquired a new position in Bristol-Myers Squibb during the 1st quarter valued at approximately $27,000. LGT Financial Advisors LLC increased its stake 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 valued at $32,000 after purchasing an additional 227 shares in the last quarter. MFA Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at $39,000. Fairman Group LLC purchased a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $42,000. Finally, Beach Investment Counsel Inc. PA purchased a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at $42,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $52.19 on Friday. The company’s 50-day moving average price is $49.75 and its 200-day moving average price is $46.43. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The company has a market cap of $105.79 billion, a P/E ratio of -16.84, a P/E/G ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $57.65.

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, topping 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 the consensus estimate of $11.54 billion. During the same period last year, the firm posted $1.75 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, sell-side analysts forecast 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 will be paid on Friday, November 1st. Shareholders 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 yield of 4.60%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft dropped 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 report on Tuesday, July 23rd. Jefferies Financial Group upped their price objective 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. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $53.00.

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.