Vaughan David Investments LLC IL Sells 530,950 Shares of Bristol-Myers Squibb (NYSE:BMY)

Vaughan David Investments LLC IL cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 89.9% during the 2nd quarter, Holdings Channel reports. The fund owned 59,578 shares of the biopharmaceutical company’s stock after selling 530,950 shares during the period. Vaughan David Investments LLC IL’s holdings in Bristol-Myers Squibb were worth $2,474,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Angeles Wealth Management LLC raised its holdings in Bristol-Myers Squibb by 4.5% in the 2nd quarter. Angeles Wealth Management LLC now owns 9,195 shares of the biopharmaceutical company’s stock worth $382,000 after purchasing an additional 392 shares during the period. MGO One Seven LLC raised its stake in shares of Bristol-Myers Squibb by 7.2% in the second quarter. MGO One Seven LLC now owns 24,427 shares of the biopharmaceutical company’s stock worth $1,014,000 after buying an additional 1,632 shares during the period. Headlands Technologies LLC purchased a new position in shares of Bristol-Myers Squibb during the 2nd quarter valued at about $4,957,000. Van Hulzen Asset Management LLC increased its holdings in Bristol-Myers Squibb by 57.2% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 8,480 shares of the biopharmaceutical company’s stock worth $352,000 after acquiring an additional 3,087 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in Bristol-Myers Squibb by 19.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 251,882 shares of the biopharmaceutical company’s stock worth $10,461,000 after acquiring an additional 40,369 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BMY shares. TD Cowen upped their price target on shares of 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. Jefferies Financial Group raised their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. 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 given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $54.67.

Bristol-Myers Squibb Stock Down 1.4 %

NYSE BMY opened at $48.59 on Thursday. The stock has a 50 day moving average price of $46.44 and a 200-day moving average price of $46.53. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.01. The company has a market capitalization of $98.50 billion, a P/E ratio of -15.67, a P/E/G ratio of 12.62 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16.

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

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.94%. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

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.