Canandaigua National Bank & Trust Co. Sells 2,952 Shares of Bristol-Myers Squibb (NYSE:BMY)

Canandaigua National Bank & Trust Co. reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,282 shares of the biopharmaceutical company’s stock after selling 2,952 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Bristol-Myers Squibb were worth $2,188,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Global Assets Advisory LLC acquired a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at approximately $5,161,000. Lincoln National Corp increased its holdings in shares of Bristol-Myers Squibb by 7.7% during the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock worth $2,326,000 after buying an additional 3,052 shares in the last quarter. Chapin Davis Inc. lifted its stake in shares of Bristol-Myers Squibb by 22.6% in the 1st quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock valued at $1,223,000 after acquiring an additional 4,159 shares during the last quarter. Sierra Summit Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at $755,000. Finally, Accel Wealth Management increased its holdings in Bristol-Myers Squibb by 19.0% in the 1st quarter. Accel Wealth Management now owns 4,934 shares of the biopharmaceutical company’s stock worth $268,000 after purchasing an additional 788 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Stock Up 0.8 %

Shares of NYSE BMY opened at $54.18 on Friday. 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 firm has a market cap of $109.83 billion, a PE ratio of -17.48, a P/E/G ratio of 12.96 and a beta of 0.46. The company’s fifty day simple moving average is $49.27 and its 200 day simple moving average is $46.39. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $57.65.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter in the prior year, the firm earned $1.75 EPS. The business’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.43%. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. TD Cowen upped their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Jefferies Financial Group increased their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target 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. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $55.00.

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.