Farmers & Merchants Investments Inc. Sells 45,176 Shares of Bristol-Myers Squibb (NYSE:BMY)

Farmers & Merchants Investments Inc. trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 30.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 102,413 shares of the biopharmaceutical company’s stock after selling 45,176 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Bristol-Myers Squibb were worth $4,253,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BMY. Northwest Financial Advisors bought a new position in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $27,000. ESL Trust Services LLC acquired a new position in shares of Bristol-Myers Squibb in the first quarter valued at about $27,000. LGT Financial Advisors LLC increased its position in Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 227 shares during the period. MFA Wealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth $39,000. Finally, Fairman Group LLC bought a new position in Bristol-Myers Squibb in the fourth quarter valued at about $42,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Down 2.2 %

NYSE:BMY opened at $48.71 on Friday. The firm has a market cap of $98.74 billion, a P/E ratio of -15.71, a P/E/G ratio of 12.92 and a beta of 0.44. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The firm has a 50-day simple moving average of $45.95 and a two-hundred day simple moving average of $46.60. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.42.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to analyst estimates 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 business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.75 earnings per share. Analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BMY shares. Cantor Fitzgerald restated a “neutral” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Jefferies Financial Group lifted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Barclays increased their price objective on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $54.67.

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.