Prosperity Consulting Group LLC Lowers Stake in Bristol-Myers Squibb (NYSE:BMY)

Prosperity Consulting Group LLC lowered its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 24.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,186 shares of the biopharmaceutical company’s stock after selling 2,593 shares during the period. Prosperity Consulting Group LLC’s holdings in Bristol-Myers Squibb were worth $340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of BMY. ESL Trust Services LLC bought a new stake in shares of Bristol-Myers Squibb during the first quarter valued at approximately $27,000. LGT Financial Advisors LLC raised its position in shares of Bristol-Myers Squibb by 42.7% during the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 227 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the second quarter valued at approximately $39,000. Fairman Group LLC bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $42,000. Finally, Beach Investment Counsel Inc. PA bought a new stake in shares of Bristol-Myers Squibb during the second quarter valued at approximately $42,000. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 1.8 %

NYSE BMY opened at $49.13 on Friday. The company’s 50-day moving average price is $46.79 and its 200-day moving average price is $46.50. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The stock has a market cap of $99.61 billion, a PE ratio of -15.85, a PEG ratio of 12.59 and a beta of 0.46. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $60.55.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.75 earnings per share. Equities research analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BMY shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. Jefferies Financial Group boosted their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, TD Cowen boosted their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $54.67.

About Bristol-Myers Squibb

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.