Westwood Holdings Group Inc. Cuts Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Westwood Holdings Group Inc. trimmed its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 97.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,785 shares of the biopharmaceutical company’s stock after selling 198,248 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Bristol-Myers Squibb were worth $240,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BMY. Gryphon Financial Partners LLC grew its stake in Bristol-Myers Squibb by 23.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 5,235 shares of the biopharmaceutical company’s stock worth $280,000 after purchasing an additional 995 shares in the last quarter. Clearbridge Investments LLC grew its stake in Bristol-Myers Squibb by 12.0% during the 4th quarter. Clearbridge Investments LLC now owns 125,980 shares of the biopharmaceutical company’s stock worth $6,464,000 after purchasing an additional 13,534 shares in the last quarter. TCW Group Inc. acquired a new position in Bristol-Myers Squibb during the 4th quarter worth $2,134,000. Congress Wealth Management LLC DE grew its stake in Bristol-Myers Squibb by 110.6% during the 4th quarter. Congress Wealth Management LLC DE now owns 20,552 shares of the biopharmaceutical company’s stock worth $1,055,000 after purchasing an additional 10,791 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. acquired a new position in Bristol-Myers Squibb during the 4th quarter worth $12,015,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Up 0.8 %

BMY opened at $49.41 on Monday. The business has a 50 day moving average price of $47.68 and a two-hundred day moving average price of $46.40. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The company 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 has a 52 week low of $39.35 and a 52 week high of $59.46.

Bristol-Myers Squibb (NYSE:BMY) last posted 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. The firm had revenue of $12.20 billion during the quarter, compared to the consensus estimate 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 firm’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.75 EPS. As a group, research analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

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. This represents a $2.40 annualized dividend and a yield of 4.86%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Wall Street Analyst Weigh In

BMY has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Jefferies Financial Group upped their price objective 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. TD Cowen upped their price objective on 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 set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.