Confluence Wealth Services Inc. Sells 2,101 Shares of Bristol-Myers Squibb (NYSE:BMY)

Confluence Wealth Services Inc. lessened its position in Bristol-Myers Squibb (NYSE:BMY) by 21.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,898 shares of the biopharmaceutical company’s stock after selling 2,101 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Bristol-Myers Squibb were worth $328,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth about $363,000. Fisher Asset Management LLC grew its stake in shares of Bristol-Myers Squibb by 130.7% in the 4th quarter. Fisher Asset Management LLC now owns 224,537 shares of the biopharmaceutical company’s stock worth $11,521,000 after buying an additional 127,228 shares during the last quarter. Axxcess Wealth Management LLC increased its position in Bristol-Myers Squibb by 35.0% during the 4th quarter. Axxcess Wealth Management LLC now owns 60,140 shares of the biopharmaceutical company’s stock valued at $3,086,000 after buying an additional 15,585 shares in the last quarter. TCG Advisory Services LLC raised its stake in Bristol-Myers Squibb by 99.1% during the fourth quarter. TCG Advisory Services LLC now owns 11,258 shares of the biopharmaceutical company’s stock valued at $578,000 after buying an additional 5,604 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC boosted its holdings in Bristol-Myers Squibb by 12.8% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 6,336 shares of the biopharmaceutical company’s stock worth $325,000 after acquiring an additional 720 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

BMY has been the subject of several recent analyst reports. TD Cowen lifted their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Barclays increased their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Jefferies Financial Group increased their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $54.67.

Bristol-Myers Squibb Stock Performance

BMY opened at $49.95 on Monday. The company’s 50 day moving average is $45.17 and its 200 day moving average is $46.56. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The company has a market cap of $101.25 billion, a price-to-earnings ratio of -16.11, a PEG ratio of 12.92 and a beta of 0.44. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $63.03.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. The business had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.75 EPS. On average, equities research analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

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.