Bay Harbor Wealth Management LLC Sells 697 Shares of Bristol-Myers Squibb (NYSE:BMY)


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Bay Harbor Wealth Management LLC trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 29.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,672 shares of the biopharmaceutical company’s stock after selling 697 shares during the quarter. Bay Harbor Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $104,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BMY. Prentiss Smith & Co. Inc. increased its position in Bristol-Myers Squibb by 6.2% during the fourth quarter. Prentiss Smith & Co. Inc. now owns 9,731 shares of the biopharmaceutical company’s stock worth $604,000 after buying an additional 567 shares during the last quarter. Meyer Handelman Co. increased its holdings in Bristol-Myers Squibb by 1.7% in the fourth quarter. Meyer Handelman Co. now owns 660,438 shares of the biopharmaceutical company’s stock valued at $40,967,000 after purchasing an additional 11,000 shares during the period. Paragon Capital Management Ltd acquired a new stake in Bristol-Myers Squibb during the 4th quarter worth about $214,000. Avalon Investment & Advisory boosted its position in shares of Bristol-Myers Squibb by 5.6% during the 4th quarter. Avalon Investment & Advisory now owns 336,914 shares of the biopharmaceutical company’s stock worth $20,899,000 after purchasing an additional 17,900 shares in the last quarter. Finally, Lido Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 20.7% during the 4th quarter. Lido Advisors LLC now owns 36,984 shares of the biopharmaceutical company’s stock worth $2,312,000 after buying an additional 6,337 shares in the last quarter. Institutional investors and hedge funds own 72.41% of the company’s stock.

Shares of Bristol-Myers Squibb stock traded up $0.05 on Tuesday, hitting $61.04. 88,979 shares of the company traded hands, compared to its average volume of 12,958,490. The stock’s 50 day moving average price is $62.59 and its 200-day moving average price is $70.48. The company has a current ratio of 1.67, a quick ratio of 1.58 and a debt-to-equity ratio of 0.82. Bristol-Myers Squibb has a 52 week low of $45.76 and a 52 week high of $67.16. The company has a market cap of $136.76 billion, a PE ratio of -554.40, a PEG ratio of 1.00 and a beta of 0.67.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Wednesday, February 3rd. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.04. Bristol-Myers Squibb had a negative net margin of 0.11% and a positive return on equity of 27.48%. The firm had revenue of $11.07 billion during the quarter, compared to the consensus estimate of $10.74 billion. During the same quarter in the previous year, the firm posted $1.22 earnings per share. The company’s revenue was up 39.3% on a year-over-year basis. As a group, research analysts anticipate that Bristol-Myers Squibb will post 6.35 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, February 1st. Stockholders of record on Monday, January 4th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.21%. The ex-dividend date was Thursday, December 31st. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.45. Bristol-Myers Squibb’s payout ratio is currently 41.79%.

Several analysts have weighed in on BMY shares. The Goldman Sachs Group raised shares of Bristol-Myers Squibb from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, December 15th. TheStreet raised shares of Bristol-Myers Squibb from a “c+” rating to a “b” rating in a research note on Monday, December 7th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $72.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, November 10th. Gabelli lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Friday, November 6th. Finally, Smith Barney Citigroup increased their price objective on shares of Bristol-Myers Squibb from $73.00 to $77.00 in a research report on Monday, November 30th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $73.75.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products in hematology, oncology, cardiovascular, and immunology therapeutic classes. The company's products include Opdivo for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia for adult patients with active RA and prostate-specific antigen, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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