Wellington Shields & Co. LLC lessened its holdings in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 3.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 44,750 shares of the biopharmaceutical company’s stock after selling 1,754 shares during the period. Bristol-Myers Squibb makes up 1.5% of Wellington Shields & Co. LLC’s investment portfolio, making the stock its 18th largest position. Wellington Shields & Co. LLC’s holdings in Bristol-Myers Squibb were worth $2,742,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Delphi Private Advisors LLC bought a new position in Bristol-Myers Squibb in the 4th quarter worth about $108,000. Massey Quick Simon & CO. LLC boosted its stake in Bristol-Myers Squibb by 523.5% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 1,777 shares of the biopharmaceutical company’s stock worth $113,000 after purchasing an additional 1,492 shares in the last quarter. Horan Capital Advisors LLC. bought a new position in Bristol-Myers Squibb in the 3rd quarter worth about $122,000. Atlantic Trust LLC bought a new position in Bristol-Myers Squibb in the 2nd quarter worth about $111,000. Finally, AllSquare Wealth Management LLC bought a new position in Bristol-Myers Squibb in the 3rd quarter worth about $134,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.
A number of brokerages recently issued reports on BMY. TheStreet cut shares of Bristol-Myers Squibb from a “b” rating to a “c+” rating in a research note on Thursday, March 8th. ValuEngine cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Bank of America upped their target price on shares of Bristol-Myers Squibb from $64.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, March 5th. DZ Bank cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Finally, Jefferies Group set a $72.00 target price on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Monday, February 26th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $66.30.
Shares of Bristol-Myers Squibb Co (BMY) opened at $67.45 on Tuesday. Bristol-Myers Squibb Co has a 52-week low of $51.56 and a 52-week high of $70.05. The company has a market cap of $110,885.03, a PE ratio of 114.32, a PEG ratio of 2.08 and a beta of 0.98. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.43 and a current ratio of 1.55.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Monday, February 5th. The biopharmaceutical company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Bristol-Myers Squibb had a net margin of 4.85% and a return on equity of 35.43%. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. sell-side analysts expect that Bristol-Myers Squibb Co will post 3.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Friday, April 6th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Thursday, April 5th. Bristol-Myers Squibb’s payout ratio is currently 271.19%.
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About Bristol-Myers Squibb
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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