Abbrea Capital LLC Sells 5,320 Shares of Bristol-Myers Squibb (NYSE:BMY)

Abbrea Capital LLC reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 47.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,844 shares of the biopharmaceutical company’s stock after selling 5,320 shares during the quarter. Abbrea Capital LLC’s holdings in Bristol-Myers Squibb were worth $300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Institute for Wealth Management LLC. grew its stake in shares of Bristol-Myers Squibb by 1.0% in the fourth quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock worth $1,542,000 after purchasing an additional 296 shares during the last quarter. Herold Advisors Inc. grew its stake in shares of Bristol-Myers Squibb by 3.2% in the third 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 boosted its position 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 valued at $8,115,000 after acquiring an additional 12,121 shares in the last quarter. Metis Global Partners LLC boosted its position 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 valued at $5,907,000 after acquiring an additional 13,122 shares in the last quarter. Finally, Jmac Enterprises LLC boosted its position 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 valued at $706,000 after acquiring an additional 1,245 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Stock Down 8.5 %

NYSE BMY traded down $4.16 during mid-day trading on Thursday, reaching $44.70. The stock had a trading volume of 45,036,957 shares, compared to its average volume of 15,901,483. Bristol-Myers Squibb has a 1 year low of $44.37 and a 1 year high of $69.74. The stock has a market cap of $90.60 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.48 and a beta of 0.39. The company has a fifty day moving average price of $51.22 and a 200 day moving average price of $51.31. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) EPS for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. On average, research analysts expect that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The business 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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

Wall Street Analyst Weigh In

Several analysts have weighed in on BMY shares. Bank of America cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. Wells Fargo & Company lifted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Finally, Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus target price of $61.18.

About Bristol-Myers Squibb

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.