Cornell Pochily Investment Advisors Inc. Sells 973 Shares of Bristol-Myers Squibb (NYSE:BMY)

Cornell Pochily Investment Advisors Inc. reduced its holdings in Bristol-Myers Squibb (NYSE:BMY) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,773 shares of the biopharmaceutical company’s stock after selling 973 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $604,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BMY. Dakota Wealth Management purchased a new position in shares of Bristol-Myers Squibb in the 1st quarter worth about $332,000. Covestor Ltd boosted its holdings in Bristol-Myers Squibb by 111.5% during the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock valued at $150,000 after acquiring an additional 1,082 shares during the period. NewEdge Advisors LLC boosted its holdings in Bristol-Myers Squibb by 53.2% during the 1st quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after acquiring an additional 57,444 shares during the period. Ergoteles LLC purchased a new stake in Bristol-Myers Squibb during the 1st quarter valued at about $1,997,000. Finally, Mackenzie Financial Corp boosted its holdings in Bristol-Myers Squibb by 25.1% during the 1st quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after acquiring an additional 68,018 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Bristol-Myers Squibb Price Performance

BMY stock traded up $0.60 during mid-day trading on Thursday, reaching $53.85. The company’s stock had a trading volume of 1,795,522 shares, compared to its average volume of 16,663,486. The stock has a market cap of $109.14 billion, a PE ratio of 13.95, a P/E/G ratio of 1.59 and a beta of 0.38. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a fifty-two week low of $47.58 and a fifty-two week high of $71.07. The company’s 50 day moving average is $50.73 and its two-hundred day moving average is $52.43.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter last year, the company posted $1.82 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. Equities research analysts expect that Bristol-Myers Squibb will post 6.61 EPS for the current year.

Bristol-Myers Squibb announced that its board has initiated a stock buyback program on Thursday, December 7th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the biopharmaceutical company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 4.46%. Bristol-Myers Squibb’s dividend payout ratio is presently 62.18%.

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.