Spirit of America Management Corp NY Has $388,000 Stake in Bristol-Myers Squibb (NYSE:BMY)

Spirit of America Management Corp NY cut its position in Bristol-Myers Squibb (NYSE:BMY) by 52.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,500 shares of the biopharmaceutical company’s stock after selling 8,150 shares during the quarter. Spirit of America Management Corp NY’s holdings in Bristol-Myers Squibb were worth $388,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Paragon Capital Management LLC grew its holdings in Bristol-Myers Squibb by 1.1% during the 1st quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock worth $1,112,000 after acquiring an additional 222 shares during the last quarter. OmniStar Financial Group Inc. raised its position in Bristol-Myers Squibb by 1.7% during the 2nd quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock worth $553,000 after purchasing an additional 224 shares during the last quarter. LGT Financial Advisors LLC lifted its holdings 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 period. Cassia Capital Partners LLC grew its position in shares of Bristol-Myers Squibb by 2.9% in the 3rd quarter. Cassia Capital Partners LLC now owns 8,222 shares of the biopharmaceutical company’s stock valued at $425,000 after buying an additional 235 shares during the last quarter. Finally, Tempus Wealth Planning LLC increased its stake in shares of Bristol-Myers Squibb by 1.5% in the third quarter. Tempus Wealth Planning LLC now owns 15,648 shares of the biopharmaceutical company’s stock valued at $810,000 after buying an additional 235 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BMY. TD Cowen increased their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Jefferies Financial Group boosted their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. UBS Group lifted their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets restated a “market perform” rating and set a $48.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.20.

Bristol-Myers Squibb Stock Down 0.3 %

BMY stock opened at $52.92 on Friday. The firm has a market capitalization of $107.27 billion, a PE ratio of -17.07, a P/E/G ratio of 13.75 and a beta of 0.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $56.77. The stock’s 50 day moving average is $50.63 and its 200-day moving average is $46.39.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data 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 business had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same period last year, the business earned $1.75 EPS. The business’s revenue was up 8.7% on a year-over-year basis. Sell-side analysts expect that Bristol-Myers Squibb will post 0.77 EPS 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 given a dividend of $0.60 per share. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.54%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Bristol-Myers Squibb 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.