Bank of Stockton Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

Bank of Stockton lowered its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,796 shares of the biopharmaceutical company’s stock after selling 227 shares during the period. Bank of Stockton’s holdings in Bristol-Myers Squibb were worth $300,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Sunbelt Securities Inc. grew its position in shares of Bristol-Myers Squibb by 19.1% during the first quarter. Sunbelt Securities Inc. now owns 10,080 shares of the biopharmaceutical company’s stock worth $547,000 after buying an additional 1,614 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Bristol-Myers Squibb by 19.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 461,514 shares of the biopharmaceutical company’s stock worth $25,028,000 after buying an additional 74,486 shares in the last quarter. Hennessy Advisors Inc. grew its position in shares of Bristol-Myers Squibb by 45.7% during the first quarter. Hennessy Advisors Inc. now owns 104,000 shares of the biopharmaceutical company’s stock worth $5,640,000 after buying an additional 32,600 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in shares of Bristol-Myers Squibb by 45.8% during the first quarter. Fifth Third Wealth Advisors LLC now owns 8,103 shares of the biopharmaceutical company’s stock worth $439,000 after buying an additional 2,547 shares in the last quarter. Finally, Register Financial Advisors LLC acquired a new position in Bristol-Myers Squibb in the first quarter worth $260,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 1.5 %

Shares of BMY traded down $0.80 during mid-day trading on Friday, hitting $52.12. 1,698,208 shares of the company’s stock were exchanged, compared to its average volume of 14,525,978. The firm has a fifty day moving average of $50.70 and a two-hundred day moving average of $46.44. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $55.29. The stock has a market cap of $105.65 billion, a price-to-earnings ratio of -16.97, a P/E/G ratio of 13.75 and a beta of 0.46. 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 (NYSE:BMY) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same period last year, the business posted $1.75 EPS. Bristol-Myers Squibb’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.60%. Bristol-Myers Squibb’s payout ratio is presently -77.42%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BMY shares. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Jefferies Financial Group lifted their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. UBS Group lifted their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft decreased 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 report on Tuesday, July 23rd. Finally, Barclays boosted their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $53.31.

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.