Bristol-Myers Squibb Co (NYSE:BMY) Shares Sold by Stony Point Wealth Management Inc.

Stony Point Wealth Management Inc. trimmed its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 17.4% in the third quarter, Holdings Channel.com reports. The firm owned 4,458 shares of the biopharmaceutical company’s stock after selling 937 shares during the period. Stony Point Wealth Management Inc.’s holdings in Bristol-Myers Squibb were worth $226,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BMY. Lenox Wealth Advisors LLC boosted its stake in Bristol-Myers Squibb by 555.7% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 636 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 539 shares during the last quarter. Financial Gravity Wealth Inc. boosted its stake in Bristol-Myers Squibb by 101.2% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 650 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 327 shares during the last quarter. Endurance Wealth Management Inc. boosted its stake in Bristol-Myers Squibb by 119.6% during the 2nd quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 500 shares during the last quarter. HMS Capital Management LLC bought a new position in Bristol-Myers Squibb during the 2nd quarter valued at $45,000. Finally, Global Trust Asset Management LLC boosted its stake in Bristol-Myers Squibb by 251.1% during the 2nd quarter. Global Trust Asset Management LLC now owns 3,511 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 2,511 shares during the last quarter. 80.25% of the stock is owned by institutional investors and hedge funds.

Shares of Bristol-Myers Squibb stock traded up $0.49 during trading hours on Tuesday, reaching $52.06. The company’s stock had a trading volume of 4,278,197 shares, compared to its average volume of 10,084,974. The company’s 50 day simple moving average is $49.59 and its 200 day simple moving average is $47.11. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.75 and a current ratio of 3.88. Bristol-Myers Squibb Co has a one year low of $42.48 and a one year high of $59.28. The stock has a market cap of $84.34 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 2.54 and a beta of 0.72.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same period last year, the firm posted $1.01 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts predict that Bristol-Myers Squibb Co will post 4.29 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a $0.41 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.15%. Bristol-Myers Squibb’s payout ratio is currently 41.21%.

In other Bristol-Myers Squibb news, Director Robert J. Bertolini purchased 11,000 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, July 31st. The shares were bought at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the transaction, the director now owns 11,397 shares in the company, valued at approximately $509,673.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

BMY has been the topic of a number of research analyst reports. TheStreet upgraded shares of Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research note on Wednesday, September 18th. Bank of America increased their price objective on shares of Bristol-Myers Squibb from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. ValuEngine upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. set a $62.00 price objective on shares of Bristol-Myers Squibb and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, Atlantic Securities upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price objective on the stock in a research note on Wednesday, August 14th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $55.81.

Bristol-Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

Further Reading: Death Cross

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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