Beacon Harbor Wealth Advisors Inc. Has $1.70 Million Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Beacon Harbor Wealth Advisors Inc. trimmed its position in Bristol-Myers Squibb (NYSE:BMY) by 59.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,054 shares of the biopharmaceutical company’s stock after selling 48,733 shares during the quarter. Beacon Harbor Wealth Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $1,696,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC grew its position in shares of Bristol-Myers Squibb by 24.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,913,249 shares of the biopharmaceutical company’s stock worth $98,169,000 after buying an additional 376,367 shares during the period. First Horizon Advisors Inc. grew its position in shares of Bristol-Myers Squibb by 2.3% during the 4th quarter. First Horizon Advisors Inc. now owns 93,408 shares of the biopharmaceutical company’s stock worth $4,793,000 after buying an additional 2,075 shares during the period. Summit Asset Management LLC grew its position in shares of Bristol-Myers Squibb by 7.6% during the 4th quarter. Summit Asset Management LLC now owns 8,498 shares of the biopharmaceutical company’s stock worth $436,000 after buying an additional 600 shares during the period. West Family Investments Inc. grew its position in shares of Bristol-Myers Squibb by 64.1% during the 4th quarter. West Family Investments Inc. now owns 6,096 shares of the biopharmaceutical company’s stock worth $313,000 after buying an additional 2,381 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of Bristol-Myers Squibb by 130.7% during the 4th quarter. Fisher Asset Management LLC now owns 224,537 shares of the biopharmaceutical company’s stock worth $11,521,000 after buying an additional 127,228 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Down 0.9 %

Shares of Bristol-Myers Squibb stock traded down $0.40 on Thursday, reaching $43.81. 9,156,427 shares of the company were exchanged, compared to its average volume of 15,876,731. Bristol-Myers Squibb has a one year low of $43.33 and a one year high of $69.10. The company has a market capitalization of $88.81 billion, a price-to-earnings ratio of -14.15, a PEG ratio of 14.70 and a beta of 0.45. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The company has a 50-day moving average of $50.67 and a 200 day moving average of $50.89.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The company had revenue of $11.87 billion for the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.05 EPS. On average, equities research analysts forecast that Bristol-Myers Squibb will post 0.6 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date of this dividend was Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BMY shares. Barclays decreased their price objective on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. Finally, William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $60.00.

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.