Carret Asset Management LLC Lowers Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Carret Asset Management LLC cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 57,337 shares of the biopharmaceutical company’s stock after selling 506 shares during the period. Carret Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $2,942,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at $25,000. Milestone Investment Advisors LLC acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at $27,000. Blue Bell Private Wealth Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 61.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Legacy Financial Group LLC acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at $39,000. Finally, VisionPoint Advisory Group LLC lifted its holdings in shares of Bristol-Myers Squibb by 300.5% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 737 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 553 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Down 0.3 %

Shares of BMY traded down $0.13 during mid-day trading on Wednesday, hitting $48.86. 16,032,367 shares of the company’s stock were exchanged, compared to its average volume of 15,532,586. The firm has a fifty day moving average of $51.22 and a two-hundred day moving average of $51.32. Bristol-Myers Squibb has a twelve month low of $47.58 and a twelve month high of $70.93. The stock has a market cap of $99.03 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 1.48 and a beta of 0.39. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The company had revenue of $11.48 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same quarter in the prior year, the business posted $1.82 EPS. Bristol-Myers Squibb’s quarterly revenue was up .6% on a year-over-year basis. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently 62.18%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. Wells Fargo & Company boosted their target price on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Finally, William Blair reaffirmed 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 assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $61.18.

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.