Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Cahaba Wealth Management Inc.

Cahaba Wealth Management Inc. cut its holdings in Bristol-Myers Squibb (NYSE:BMYFree Report) by 12.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,963 shares of the biopharmaceutical company’s stock after selling 540 shares during the period. Cahaba Wealth Management Inc.’s holdings in Bristol-Myers Squibb were worth $203,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BMY. OFI Invest Asset Management acquired a new position in Bristol-Myers Squibb in the third quarter valued at $25,000. True Wealth Design LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at about $26,000. Milestone Investment Advisors LLC purchased a new position in Bristol-Myers Squibb during the 3rd quarter worth approximately $27,000. Coppell Advisory Solutions LLC acquired a new position in Bristol-Myers Squibb during the second quarter worth approximately $28,000. Finally, Blue Bell Private Wealth Management LLC lifted its stake in Bristol-Myers Squibb by 61.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 200 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY traded down $0.24 on Tuesday, reaching $52.75. 10,233,247 shares of the company were exchanged, compared to its average volume of 16,652,035. 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 1-year low of $47.58 and a 1-year high of $71.07. The company has a 50-day moving average of $51.03 and a 200-day moving average of $52.25. The firm has a market cap of $106.91 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 1.64 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last issued its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping the consensus estimate 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 net margin of 17.83% and a return on equity of 50.95%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.82 earnings per share. Equities analysts forecast that Bristol-Myers Squibb will post 6.61 earnings per share for the current fiscal year.

Bristol-Myers Squibb declared that its Board of Directors has authorized a share repurchase plan on Thursday, December 7th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.55%. Bristol-Myers Squibb’s payout ratio is 62.18%.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Report on BMY

About Bristol-Myers Squibb

(Free Report)

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.

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

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