Pinnacle Wealth Management Advisory Group LLC cut its stake in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 8.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,864 shares of the biopharmaceutical company’s stock after selling 1,969 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Bristol-Myers Squibb were worth $1,383,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Commonwealth Financial Corp PA raised its stake in Bristol-Myers Squibb by 211.8% in the first quarter. First Commonwealth Financial Corp PA now owns 11,281 shares of the biopharmaceutical company’s stock valued at $714,000 after buying an additional 7,663 shares during the period. Kovack Advisors Inc. raised its stake in Bristol-Myers Squibb by 9.4% in the first quarter. Kovack Advisors Inc. now owns 14,482 shares of the biopharmaceutical company’s stock valued at $916,000 after buying an additional 1,239 shares during the period. Arete Wealth Advisors LLC raised its stake in Bristol-Myers Squibb by 15.3% in the first quarter. Arete Wealth Advisors LLC now owns 12,828 shares of the biopharmaceutical company’s stock valued at $811,000 after buying an additional 1,703 shares during the period. Ancora Advisors LLC raised its stake in Bristol-Myers Squibb by 4.8% in the first quarter. Ancora Advisors LLC now owns 115,507 shares of the biopharmaceutical company’s stock valued at $7,306,000 after buying an additional 5,331 shares during the period. Finally, Natixis raised its stake in Bristol-Myers Squibb by 12.1% in the first quarter. Natixis now owns 691,881 shares of the biopharmaceutical company’s stock valued at $43,484,000 after buying an additional 74,903 shares during the period. 71.37% of the stock is owned by hedge funds and other institutional investors.

Several research firms have issued reports on BMY. Citigroup set a $78.00 price objective on Bristol-Myers Squibb and gave the company a “buy” rating in a research note on Friday, February 16th. Jefferies Financial Group set a $70.00 price objective on Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Friday, March 23rd. Morgan Stanley lowered Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $54.08 to $58.00 in a research note on Tuesday, April 17th. Bank of America dropped their price objective on Bristol-Myers Squibb from $68.00 to $61.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 17th. Finally, TheStreet lowered Bristol-Myers Squibb from a “b” rating to a “c+” rating in a research note on Thursday, March 8th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $62.84.

In related news, Director Dinesh C. Paliwal purchased 4,770 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, April 30th. The shares were acquired at an average price of $52.40 per share, with a total value of $249,948.00. Following the completion of the transaction, the director now directly owns 8,027 shares of the company’s stock, valued at approximately $420,614.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.12% of the company’s stock.

Shares of NYSE BMY opened at $53.46 on Thursday. The company has a market cap of $86.83 billion, a PE ratio of 17.76, a PEG ratio of 1.39 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.39 and a current ratio of 1.52. Bristol-Myers Squibb Co has a 1-year low of $49.96 and a 1-year high of $70.05.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, April 26th. The biopharmaceutical company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.09. The company had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.25 billion. Bristol-Myers Squibb had a return on equity of 37.56% and a net margin of 4.37%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share. equities research analysts predict that Bristol-Myers Squibb Co will post 3.43 earnings per share for the current year.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in the 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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