S.A. Mason LLC Sells 999 Shares of Bristol-Myers Squibb (NYSE:BMY)

S.A. Mason LLC reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 20.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,930 shares of the biopharmaceutical company’s stock after selling 999 shares during the period. S.A. Mason LLC’s holdings in Bristol-Myers Squibb were worth $202,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Dakota Wealth Management purchased a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at $332,000. Covestor Ltd boosted its stake in Bristol-Myers Squibb by 111.5% during the first quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 1,082 shares during the period. NewEdge Advisors LLC grew its position in Bristol-Myers Squibb by 53.2% during the first quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock worth $12,075,000 after buying an additional 57,444 shares in the last quarter. Ergoteles LLC bought a new position in Bristol-Myers Squibb in the 1st quarter worth about $1,997,000. Finally, Mackenzie Financial Corp boosted its position in shares of Bristol-Myers Squibb by 25.1% during the 1st quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after acquiring an additional 68,018 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BMY has been the subject of a number of research reports. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Wells Fargo & Company cut their target price on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 6th. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $61.12.

Bristol-Myers Squibb Trading Up 1.3 %

Shares of NYSE BMY opened at $53.25 on Thursday. The stock has a market cap of $107.92 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 1.58 and a beta of 0.38. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. Bristol-Myers Squibb has a 1 year low of $47.58 and a 1 year high of $71.07. The firm has a 50-day moving average of $50.73 and a 200 day moving average of $52.43.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter in the previous year, the business earned $1.82 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts expect that Bristol-Myers Squibb will post 6.61 EPS for the current fiscal year.

Bristol-Myers Squibb declared that its board has initiated a stock repurchase plan on Thursday, December 7th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.51%. Bristol-Myers Squibb’s dividend payout ratio is presently 62.18%.

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.