Mount Yale Investment Advisors LLC Sells 16,103 Shares of Bristol-Myers Squibb (NYSE:BMY)

Mount Yale Investment Advisors LLC cut its stake in Bristol-Myers Squibb (NYSE:BMY) by 8.9% in the second quarter, Holdings Channel reports. The institutional investor owned 164,361 shares of the biopharmaceutical company’s stock after selling 16,103 shares during the period. Bristol-Myers Squibb makes up about 0.5% of Mount Yale Investment Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding. Mount Yale Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $6,826,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BMY. Traynor Capital Management Inc. boosted its position in Bristol-Myers Squibb by 2.8% in the 1st quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock worth $416,000 after purchasing an additional 207 shares in the last quarter. Paragon Capital Management LLC boosted its holdings in Bristol-Myers Squibb by 1.1% during the first quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock worth $1,112,000 after buying an additional 222 shares in the last quarter. OmniStar Financial Group Inc. grew its position in Bristol-Myers Squibb by 1.7% during the second quarter. OmniStar Financial Group Inc. now owns 13,316 shares of the biopharmaceutical company’s stock valued at $553,000 after buying an additional 224 shares during the period. LGT Financial Advisors LLC grew 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 valued at $32,000 after buying an additional 227 shares during the period. Finally, Bell Investment Advisors Inc increased its holdings in Bristol-Myers Squibb by 18.1% in the first quarter. Bell Investment Advisors Inc now owns 1,537 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 236 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Up 0.8 %

Shares of NYSE BMY opened at $49.41 on Friday. 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 50-day moving average of $47.68 and a 200 day moving average of $46.45. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $59.46. The stock has a market cap of $100.16 billion, a PE ratio of -15.94, a P/E/G ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 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 positive return on equity of 12.51% and a negative net margin of 14.06%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.75 earnings per share. As a group, sell-side 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 issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.86%. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BMY shares. 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 report on Tuesday, July 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. Barclays upped their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Jefferies Financial Group lifted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, TD Cowen upped their price objective 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. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.00.

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.