Global Trust Asset Management LLC Trims Position in Bristol-Myers Squibb (NYSE:BMY)

Global Trust Asset Management LLC cut its position in Bristol-Myers Squibb (NYSE:BMY) by 20.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,201 shares of the biopharmaceutical company’s stock after selling 300 shares during the period. Global Trust Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $62,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BMY. Wealth Enhancement Advisory Services LLC boosted its position in shares of Bristol-Myers Squibb by 19.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 461,514 shares of the biopharmaceutical company’s stock worth $25,028,000 after acquiring an additional 74,486 shares during the last quarter. Kathmere Capital Management LLC bought a new position in shares of Bristol-Myers Squibb during the first quarter worth $222,000. OneAscent Wealth Management LLC boosted its position in shares of Bristol-Myers Squibb by 5.0% during the first quarter. OneAscent Wealth Management LLC now owns 5,992 shares of the biopharmaceutical company’s stock worth $325,000 after acquiring an additional 288 shares during the last quarter. Independence Bank of Kentucky boosted its position in shares of Bristol-Myers Squibb by 3.0% during the first quarter. Independence Bank of Kentucky now owns 10,556 shares of the biopharmaceutical company’s stock worth $572,000 after acquiring an additional 308 shares during the last quarter. Finally, Chemung Canal Trust Co. boosted its position in shares of Bristol-Myers Squibb by 4.1% during the first quarter. Chemung Canal Trust Co. now owns 41,012 shares of the biopharmaceutical company’s stock worth $2,224,000 after acquiring an additional 1,604 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of 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. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, UBS Group increased their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus price target of $53.31.

Bristol-Myers Squibb Trading Down 1.9 %

BMY stock opened at $51.92 on Friday. The company has a market capitalization of $105.24 billion, a PE ratio of -16.75, a P/E/G ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $55.29. The firm’s 50-day moving average is $50.70 and its 200 day moving average is $46.44. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02.

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, topping the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate 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 firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.75 EPS. On average, research analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business 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. This represents a $2.40 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

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.