J.W. Cole Advisors Inc. Sells 6,622 Shares of Bristol-Myers Squibb (NYSE:BMY)

J.W. Cole Advisors Inc. cut its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 21.6% in the second quarter, HoldingsChannel reports. The firm owned 24,007 shares of the biopharmaceutical company’s stock after selling 6,622 shares during the period. J.W. Cole Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $997,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BMY. Gryphon Financial Partners LLC raised its holdings in shares of Bristol-Myers Squibb by 23.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 5,235 shares of the biopharmaceutical company’s stock valued at $280,000 after purchasing an additional 995 shares in the last quarter. Gladstone Institutional Advisory LLC lifted its holdings in Bristol-Myers Squibb by 19.8% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 62,786 shares of the biopharmaceutical company’s stock worth $3,222,000 after buying an additional 10,373 shares during the period. Thoroughbred Financial Services LLC boosted its position in Bristol-Myers Squibb by 4.8% during the 4th quarter. Thoroughbred Financial Services LLC now owns 23,095 shares of the biopharmaceutical company’s stock valued at $1,185,000 after acquiring an additional 1,065 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Bristol-Myers Squibb by 12.0% in the 4th quarter. Clearbridge Investments LLC now owns 125,980 shares of the biopharmaceutical company’s stock valued at $6,464,000 after acquiring an additional 13,534 shares during the period. Finally, Sachetta LLC bought a new position in shares of Bristol-Myers Squibb in the 4th quarter worth $57,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. TD Cowen lifted their target price on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Jefferies Financial Group increased their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Barclays upped their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $55.00.

Bristol-Myers Squibb Trading Up 1.8 %

Shares of NYSE:BMY opened at $50.00 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $59.46. The business has a 50 day moving average of $46.99 and a two-hundred day moving average of $46.47. The company has a market capitalization of $101.36 billion, a PE ratio of -16.13, a PEG ratio of 12.59 and a beta of 0.46.

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

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.80%. Bristol-Myers Squibb’s dividend payout ratio is presently -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.