Pinnacle Wealth Management Advisory Group LLC Sells 3,880 Shares of Bristol-Myers Squibb (NYSE:BMY)

Pinnacle Wealth Management Advisory Group LLC decreased its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 15.3% during the fourth quarter, Holdings Channel reports. The fund owned 21,501 shares of the biopharmaceutical company’s stock after selling 3,880 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Bristol-Myers Squibb were worth $1,103,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in Bristol-Myers Squibb during the third quarter valued at $25,000. Milestone Investment Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $27,000. Blue Bell Private Wealth Management LLC boosted its stake in 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 purchasing an additional 200 shares during the last quarter. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at $34,000. Finally, VisionPoint Advisory Group LLC boosted 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 during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Barclays dropped their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. BMO Capital Markets decreased their price target on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Finally, Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. One equities research 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’s stock. According to MarketBeat.com, Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Trading Down 0.8 %

NYSE BMY traded down $0.37 on Wednesday, hitting $43.67. 11,895,172 shares of the stock were exchanged, compared to its average volume of 15,741,268. The stock has a fifty day moving average price of $50.11 and a two-hundred day moving average price of $50.48. The firm has a market capitalization of $88.52 billion, a P/E ratio of -14.09, a P/E/G ratio of 14.82 and a beta of 0.45. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. Bristol-Myers Squibb has a 52-week low of $43.33 and a 52-week high of $69.10.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results 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. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same period last year, the company earned $2.05 EPS. Bristol-Myers Squibb’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts forecast that Bristol-Myers Squibb will post 0.59 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date was Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Bristol-Myers Squibb 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.