Bristol-Myers Squibb (NYSE:BMY) Position Cut by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. lowered its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 7.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,963 shares of the biopharmaceutical company’s stock after selling 1,009 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $671,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Cornerstone Wealth Management LLC increased its position in shares of Bristol-Myers Squibb by 6.6% in the first quarter. Cornerstone Wealth Management LLC now owns 15,392 shares of the biopharmaceutical company’s stock worth $835,000 after acquiring an additional 948 shares in the last quarter. First Trust Direct Indexing L.P. lifted its stake in shares of Bristol-Myers Squibb by 52.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 22,320 shares of the biopharmaceutical company’s stock valued at $1,210,000 after purchasing an additional 7,649 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in Bristol-Myers Squibb by 5.9% in the first quarter. Legacy Wealth Asset Management LLC now owns 9,860 shares of the biopharmaceutical company’s stock worth $535,000 after purchasing an additional 545 shares in the last quarter. Accel Wealth Management raised its stake in shares of Bristol-Myers Squibb by 19.0% in the 1st quarter. Accel Wealth Management now owns 4,934 shares of the biopharmaceutical company’s stock valued at $268,000 after acquiring an additional 788 shares in the last quarter. Finally, Maryland State Retirement & Pension System lifted its holdings in Bristol-Myers Squibb by 0.9% in the 1st quarter. Maryland State Retirement & Pension System now owns 159,870 shares of the biopharmaceutical company’s stock worth $8,670,000 after purchasing an additional 1,354 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of BMY stock opened at $52.68 on Thursday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $55.03. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The stock has a market cap of $106.79 billion, a PE ratio of -16.99, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The stock has a 50-day moving average of $50.98 and a 200-day moving average of $46.48.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of recent analyst reports. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price objective on the stock. TD Cowen upped their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Jefferies Financial Group lifted their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $52.38.

Bristol-Myers Squibb Company 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.