Thrive Wealth Management LLC Cuts Holdings in Bristol-Myers Squibb (NYSE:BMY)

Thrive Wealth Management LLC lowered its holdings in Bristol-Myers Squibb (NYSE:BMY) by 11.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,396 shares of the biopharmaceutical company’s stock after selling 558 shares during the quarter. Thrive Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Northwest Financial Advisors bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth approximately $27,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter worth $34,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Bristol-Myers Squibb during the fourth quarter valued at $40,000. Wetzel Investment Advisors Inc. purchased a new position in Bristol-Myers Squibb in the fourth quarter worth about $40,000. Finally, Fairman Group LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at about $42,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on BMY. BMO Capital Markets reduced their target price on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Barclays lowered their price objective 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. StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company increased their price objective 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. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Trading Down 2.4 %

Shares of BMY traded down $1.00 during mid-day trading on Thursday, reaching $41.50. 17,427,139 shares of the company’s stock traded hands, compared to its average volume of 15,720,489. Bristol-Myers Squibb has a 12 month low of $39.63 and a 12 month high of $65.38. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 0.99. The stock has a market cap of $84.12 billion, a P/E ratio of -13.56, a P/E/G ratio of 14.28 and a beta of 0.43. The stock’s 50-day moving average is $43.25 and its two-hundred day moving average is $48.27.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. During the same period last year, the company earned $2.05 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts forecast that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 annualized dividend and a yield of 5.78%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -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.