Wealth Alliance Reduces Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Wealth Alliance reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,224 shares of the biopharmaceutical company’s stock after selling 911 shares during the quarter. Wealth Alliance’s holdings in Bristol-Myers Squibb were worth $1,346,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Herold Advisors Inc. increased its holdings in Bristol-Myers Squibb by 3.2% during the 3rd quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock worth $1,954,000 after purchasing an additional 1,051 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in Bristol-Myers Squibb by 9.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock worth $8,115,000 after purchasing an additional 12,121 shares during the last quarter. Metis Global Partners LLC increased its holdings in Bristol-Myers Squibb by 14.8% during the 3rd quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock worth $5,907,000 after purchasing an additional 13,122 shares during the last quarter. Jmac Enterprises LLC increased its holdings in Bristol-Myers Squibb by 11.4% during the 3rd quarter. Jmac Enterprises LLC now owns 12,171 shares of the biopharmaceutical company’s stock worth $706,000 after purchasing an additional 1,245 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in Bristol-Myers Squibb by 0.5% during the 3rd quarter. Signaturefd LLC now owns 105,986 shares of the biopharmaceutical company’s stock worth $6,151,000 after purchasing an additional 564 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BMY has been the topic of several analyst reports. Wells Fargo & Company dropped their price objective on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 6th. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Redburn Atlantic downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Finally, Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus target price of $61.12.

Bristol-Myers Squibb Stock Down 0.5 %

Shares of Bristol-Myers Squibb stock opened at $48.27 on Wednesday. The stock’s fifty day moving average is $51.27 and its 200-day moving average is $51.62. The firm has a market capitalization of $97.83 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.46 and a beta of 0.39. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a 12-month low of $47.58 and a 12-month high of $70.93.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. The company had revenue of $11.48 billion for the quarter, compared to analyst estimates of $11.19 billion. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. Bristol-Myers Squibb’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.82 earnings per share. Equities analysts anticipate that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.97%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is 62.18%.

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.