Premier Path Wealth Partners LLC Reduces Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Premier Path Wealth Partners LLC lessened its holdings in Bristol-Myers Squibb (NYSE:BMY) by 7.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,757 shares of the biopharmaceutical company’s stock after selling 307 shares during the period. Premier Path Wealth Partners LLC’s holdings in Bristol-Myers Squibb were worth $204,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. McClarren Financial Advisors Inc. lifted its stake in shares of Bristol-Myers Squibb by 532.7% in the 4th quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock worth $96,000 after purchasing an additional 1,582 shares during the period. Institute for Wealth Management LLC. lifted its stake in shares of Bristol-Myers Squibb by 1.0% in the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock worth $1,542,000 after purchasing an additional 296 shares during the period. Herold Advisors Inc. lifted its stake in shares of Bristol-Myers Squibb by 3.2% in the 3rd quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock worth $1,954,000 after purchasing an additional 1,051 shares during the period. Great Diamond Partners LLC lifted its stake in shares of Bristol-Myers Squibb by 9.2% in the 4th quarter. Great Diamond Partners LLC now owns 4,372 shares of the biopharmaceutical company’s stock worth $224,000 after purchasing an additional 367 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its stake in shares of Bristol-Myers Squibb by 9.5% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock worth $8,115,000 after purchasing an additional 12,121 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 0.2 %

NYSE BMY traded up $0.08 on Wednesday, hitting $42.35. 16,784,430 shares of the stock were exchanged, compared to its average volume of 15,536,276. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. The stock has a fifty day moving average price of $48.24 and a two-hundred day moving average price of $49.80. The firm has a market capitalization of $85.85 billion, a P/E ratio of -13.66, a P/E/G ratio of 14.68 and a beta of 0.45. Bristol-Myers Squibb has a 52-week low of $41.91 and a 52-week high of $67.16.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. The firm had revenue of $11.87 billion during the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 earnings per share. Research analysts forecast that Bristol-Myers Squibb will post 0.59 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a yield of 5.67%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Analysts Set New Price Targets

A number of research firms have commented on BMY. Redburn Atlantic cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. Barclays decreased their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Wells Fargo & Company raised 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 note on Thursday, April 18th. Finally, William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Bristol-Myers Squibb currently 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.