SeaCrest Wealth Management LLC Cuts Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

SeaCrest Wealth Management LLC reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 58.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,817 shares of the biopharmaceutical company’s stock after selling 22,522 shares during the period. SeaCrest Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $858,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Northwest Financial Advisors purchased a new position in Bristol-Myers Squibb during the fourth quarter worth about $27,000. Pacific Capital Wealth Advisors Inc. acquired a new position in Bristol-Myers Squibb during the fourth quarter worth about $34,000. Turtle Creek Wealth Advisors LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter worth about $40,000. Wetzel Investment Advisors Inc. acquired a new position in Bristol-Myers Squibb during the fourth quarter worth about $40,000. Finally, Fairman Group LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter worth about $42,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $40.06 on Thursday. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The company has a market capitalization of $81.21 billion, a price-to-earnings ratio of -12.92, a PEG ratio of 14.21 and a beta of 0.44. The company’s 50 day simple moving average is $42.64 and its 200 day simple moving average is $47.97. Bristol-Myers Squibb has a 1 year low of $39.63 and a 1 year high of $65.38.

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, topping analysts’ consensus estimates of ($4.53) by $0.13. The company had revenue of $11.87 billion for the quarter, compared to the consensus estimate of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. Bristol-Myers Squibb’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 earnings per share. On average, sell-side analysts predict that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.99%. The ex-dividend date of this dividend is Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company upped their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 27th. Barclays lowered their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Finally, BMO Capital Markets lowered their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.