Altfest L J & Co. Inc. lowered its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 19.6% during the second quarter, Holdings Channel reports. The institutional investor owned 47,950 shares of the biopharmaceutical company’s stock after selling 11,724 shares during the period. Bristol-Myers Squibb comprises approximately 1.0% of Altfest L J & Co. Inc.’s investment portfolio, making the stock its 18th biggest position. Altfest L J & Co. Inc.’s holdings in Bristol-Myers Squibb were worth $2,654,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. W.G. Shaheen & Associates DBA Whitney & Co acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $101,000. Institutional & Family Asset Management LLC acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $106,000. Centerpoint Advisors LLC grew its position in shares of Bristol-Myers Squibb by 373.1% during the 1st quarter. Centerpoint Advisors LLC now owns 1,774 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 1,399 shares in the last quarter. Landaas & Co. WI ADV acquired a new position in shares of Bristol-Myers Squibb during the 2nd quarter worth approximately $131,000. Finally, Mount Yale Investment Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $179,000. Institutional investors and hedge funds own 70.89% of the company’s stock.

Shares of Bristol-Myers Squibb stock opened at $60.32 on Tuesday. Bristol-Myers Squibb Co has a 1-year low of $49.96 and a 1-year high of $70.05. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.46. The company has a market cap of $96.94 billion, a PE ratio of 20.04, a PEG ratio of 1.50 and a beta of 1.02.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.14. Bristol-Myers Squibb had a net margin of 1.74% and a return on equity of 42.58%. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the prior year, the firm posted $0.74 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. research analysts forecast that Bristol-Myers Squibb Co will post 3.62 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 1st. Stockholders of record on Friday, July 6th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Thursday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 53.16%.

A number of brokerages have issued reports on BMY. SunTrust Banks restated a “buy” rating and set a $67.00 target price on shares of Bristol-Myers Squibb in a research report on Tuesday, July 31st. Credit Suisse Group set a $58.00 target price on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Thursday, April 26th. UBS Group lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research report on Monday, May 21st. ValuEngine upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. Finally, BMO Capital Markets increased their target price on shares of Bristol-Myers Squibb from $47.00 to $51.00 and gave the stock a “market perform” rating in a research report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $63.11.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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