HM Payson & Co. Sells 7,517 Shares of Bristol-Myers Squibb (NYSE:BMY)

HM Payson & Co. cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 7.7% in the third quarter, HoldingsChannel reports. The firm owned 90,286 shares of the biopharmaceutical company’s stock after selling 7,517 shares during the quarter. HM Payson & Co.’s holdings in Bristol-Myers Squibb were worth $4,671,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BMY. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb in the first quarter valued at $27,000. LGT Financial Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in Bristol-Myers Squibb during the third quarter worth $34,000. MFA Wealth Advisors LLC purchased a new position in Bristol-Myers Squibb during the second quarter worth $39,000. Finally, Beach Investment Counsel Inc. PA purchased a new position in Bristol-Myers Squibb during the second quarter worth $42,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Stock Up 6.2 %

Shares of BMY traded up $3.27 during mid-day trading on Thursday, hitting $55.93. 2,518,553 shares of the company traded hands, compared to its average volume of 14,415,065. The business has a 50 day moving average of $50.98 and a 200 day moving average of $46.48. The company has a market capitalization of $113.38 billion, a PE ratio of -16.99, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $56.20. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.29%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Analysts Set New Price Targets

BMY has been the subject of several recent analyst reports. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective for the company. UBS Group boosted their target price on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Barclays boosted their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $52.38.

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.