SeaCrest Wealth Management LLC Reduces Stake in Bristol-Myers Squibb (NYSE:BMY)

SeaCrest Wealth Management LLC reduced its position in Bristol-Myers Squibb (NYSE:BMY) by 1.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,402 shares of the biopharmaceutical company’s stock after selling 680 shares during the period. SeaCrest Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $2,506,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fiduciary Planning LLC purchased a new position in Bristol-Myers Squibb in the 3rd quarter valued at approximately $25,000. Founders Capital Management purchased a new position in Bristol-Myers Squibb in the 4th quarter valued at approximately $31,000. Penbrook Management LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at $34,000. Black Swift Group LLC acquired a new stake in Bristol-Myers Squibb during the 4th quarter valued at $49,000. Finally, HBC Financial Services PLLC grew its holdings in Bristol-Myers Squibb by 30.3% during the 4th quarter. HBC Financial Services PLLC now owns 800 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 186 shares during the last quarter. 72.41% of the stock is owned by hedge funds and other institutional investors.

BMY stock traded down $0.91 during midday trading on Tuesday, reaching $60.08. The company had a trading volume of 233,335 shares, compared to its average volume of 12,958,490. The company has a quick ratio of 1.58, a current ratio of 1.67 and a debt-to-equity ratio of 0.82. The stock has a 50 day moving average price of $62.59 and a 200 day moving average price of $70.48. Bristol-Myers Squibb has a fifty-two week low of $45.76 and a fifty-two week high of $67.16. The firm has a market capitalization of $134.61 billion, a PE ratio of -554.40, a P/E/G ratio of 1.00 and a beta of 0.67.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Wednesday, February 3rd. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.04. Bristol-Myers Squibb had a positive return on equity of 27.48% and a negative net margin of 0.11%. The company had revenue of $11.07 billion during the quarter, compared to the consensus estimate of $10.74 billion. During the same period in the previous year, the firm posted $1.22 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 39.3% compared to the same quarter last year. Research analysts predict that Bristol-Myers Squibb will post 6.35 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 1st. Stockholders of record on Monday, January 4th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Thursday, December 31st. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.45. This represents a $1.96 annualized dividend and a dividend yield of 3.26%. Bristol-Myers Squibb’s payout ratio is currently 41.79%.

A number of equities research analysts have commented on the company. The Goldman Sachs Group upgraded Bristol-Myers Squibb from a “buy” rating to a “conviction-buy” rating in a report on Tuesday, December 15th. Societe Generale upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a report on Monday, November 16th. TheStreet upgraded Bristol-Myers Squibb from a “c+” rating to a “b” rating in a report on Monday, December 7th. Smith Barney Citigroup lifted their target price on Bristol-Myers Squibb from $73.00 to $77.00 in a report on Monday, November 30th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on Bristol-Myers Squibb from $73.00 to $77.00 in a report on Monday, November 30th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $73.75.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products in hematology, oncology, cardiovascular, and immunology therapeutic classes. The company's products include Opdivo 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 for adult patients with active RA and prostate-specific antigen, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.

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

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