Bristol-Myers Squibb (NYSE:BMY) Stake Decreased by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 23.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,014 shares of the biopharmaceutical company’s stock after selling 1,862 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Bristol-Myers Squibb were worth $309,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. FORVIS Wealth Advisors LLC lifted its stake in Bristol-Myers Squibb by 9.5% in the 3rd quarter. FORVIS Wealth Advisors LLC now owns 28,257 shares of the biopharmaceutical company’s stock worth $1,640,000 after acquiring an additional 2,446 shares in the last quarter. Waldron Private Wealth LLC raised its stake in shares of Bristol-Myers Squibb by 20.5% in the 3rd quarter. Waldron Private Wealth LLC now owns 17,846 shares of the biopharmaceutical company’s stock valued at $1,035,000 after acquiring an additional 3,032 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Bristol-Myers Squibb by 3.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 463,064 shares of the biopharmaceutical company’s stock valued at $26,876,000 after purchasing an additional 13,562 shares during the last quarter. NBT Bank N A NY grew its stake in Bristol-Myers Squibb by 17.8% in the 3rd quarter. NBT Bank N A NY now owns 99,103 shares of the biopharmaceutical company’s stock valued at $5,752,000 after buying an additional 14,940 shares during the last quarter. Finally, River Street Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 4.7% during the 3rd quarter. River Street Advisors LLC now owns 11,696 shares of the biopharmaceutical company’s stock worth $679,000 after purchasing an additional 526 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $43.91 on Tuesday. The company’s fifty day simple moving average is $50.24 and its 200-day simple moving average is $50.57. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. Bristol-Myers Squibb has a 12 month low of $43.33 and a 12 month high of $69.10.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.53) by $0.13. The firm had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $2.05 earnings per share. On average, research analysts predict that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date was Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Wells Fargo & Company raised their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Finally, Barclays lowered their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $60.00.

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.