IFP Advisors Inc reduced its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 15.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 46,207 shares of the biopharmaceutical company’s stock after selling 8,575 shares during the quarter. IFP Advisors Inc’s holdings in Bristol-Myers Squibb were worth $2,557,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Guyasuta Investment Advisors Inc. increased its holdings in Bristol-Myers Squibb by 4.6% in the second quarter. Guyasuta Investment Advisors Inc. now owns 34,130 shares of the biopharmaceutical company’s stock valued at $1,889,000 after buying an additional 1,496 shares during the last quarter. Berkeley Capital Partners LLC increased its holdings in Bristol-Myers Squibb by 6.3% in the second quarter. Berkeley Capital Partners LLC now owns 19,920 shares of the biopharmaceutical company’s stock valued at $1,102,000 after buying an additional 1,182 shares during the last quarter. Landaas & Co. WI ADV purchased a new position in Bristol-Myers Squibb in the second quarter valued at $131,000. Westbourne Investment Advisors Inc. increased its holdings in Bristol-Myers Squibb by 8.9% in the second quarter. Westbourne Investment Advisors Inc. now owns 46,325 shares of the biopharmaceutical company’s stock valued at $2,564,000 after buying an additional 3,800 shares during the last quarter. Finally, ARK Investment Management LLC purchased a new position in Bristol-Myers Squibb in the second quarter valued at $2,111,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

BMY has been the topic of several recent analyst reports. BMO Capital Markets reissued a “sell” rating and issued a $47.00 target price on shares of Bristol-Myers Squibb in a report on Thursday, April 26th. Jefferies Financial Group set a $58.00 target price on Bristol-Myers Squibb and gave the company a “hold” rating in a report on Sunday, July 15th. SunTrust Banks reissued a “buy” rating and issued a $67.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, July 31st. UBS Group lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and set a $57.00 target price on the stock. in a report on Monday, May 21st. Finally, Credit Suisse Group set a $58.00 target price on Bristol-Myers Squibb and gave the company a “hold” rating in a report on Thursday, April 26th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $63.11.

Shares of BMY stock opened at $60.32 on Tuesday. The stock has a market cap of $99.53 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 1.54 and a beta of 1.02. Bristol-Myers Squibb Co has a 1 year low of $49.96 and a 1 year high of $70.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 1.40.

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

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

Bristol-Myers Squibb Company Profile

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.

Featured Story: Growth Stocks, What They Are, What They Are Not

Want to see what other hedge funds are holding BMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bristol-Myers Squibb Co (NYSE:BMY).

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

Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.