Wealthspire Advisors LLC Lowers Holdings in Bristol-Myers Squibb (NYSE:BMY)

Wealthspire Advisors LLC reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,223 shares of the biopharmaceutical company’s stock after selling 1,464 shares during the period. Wealthspire Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,131,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BMY. Capital International Investors increased its stake in Bristol-Myers Squibb by 14.1% during the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after purchasing an additional 8,675,322 shares in the last quarter. M&G Plc purchased a new stake in shares of Bristol-Myers Squibb during the first quarter valued at approximately $392,608,000. Pzena Investment Management LLC increased its position in shares of Bristol-Myers Squibb by 119.8% during the first quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock valued at $666,699,000 after acquiring an additional 6,701,097 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Bristol-Myers Squibb by 77.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after acquiring an additional 5,461,767 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Bristol-Myers Squibb by 97.2% in the 1st quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock valued at $431,084,000 after acquiring an additional 3,918,234 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $49.13 on Monday. The stock has a 50-day simple moving average of $46.79 and a two-hundred day simple moving average of $46.47. 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 has a 52-week low of $39.35 and a 52-week high of $60.55. The firm has a market capitalization of $99.59 billion, a PE ratio of -15.85, a P/E/G ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping 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 company had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same period in the prior year, the firm posted $1.75 EPS. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Wall Street Analyst Weigh In

A number of research firms have commented on BMY. Deutsche Bank Aktiengesellschaft reduced their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Jefferies Financial Group boosted their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Barclays boosted their price objective 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. Finally, TD Cowen raised their target price on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $54.67.

Bristol-Myers Squibb Company 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.