Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Grace & White Inc. NY

Grace & White Inc. NY lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 22.0% in the third quarter, Holdings Channel reports. The firm owned 6,293 shares of the biopharmaceutical company’s stock after selling 1,780 shares during the period. Grace & White Inc. NY’s holdings in Bristol-Myers Squibb were worth $326,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Telos Capital Management Inc. grew its position in Bristol-Myers Squibb by 1.3% in the third quarter. Telos Capital Management Inc. now owns 106,427 shares of the biopharmaceutical company’s stock valued at $5,507,000 after acquiring an additional 1,377 shares in the last quarter. Raleigh Capital Management Inc. lifted its stake in Bristol-Myers Squibb by 42.7% in the third quarter. Raleigh Capital Management Inc. now owns 42,480 shares of the biopharmaceutical company’s stock valued at $2,198,000 after buying an additional 12,705 shares during the last quarter. Venture Visionary Partners LLC increased its holdings in shares of Bristol-Myers Squibb by 10.5% during the third quarter. Venture Visionary Partners LLC now owns 107,367 shares of the biopharmaceutical company’s stock valued at $5,555,000 after purchasing an additional 10,231 shares during the period. Northwest Investment Counselors LLC acquired a new position in Bristol-Myers Squibb during the third quarter worth about $156,000. Finally, Cassia Capital Partners LLC increased its stake in Bristol-Myers Squibb by 2.9% in the 3rd quarter. Cassia Capital Partners LLC now owns 8,222 shares of the biopharmaceutical company’s stock worth $425,000 after purchasing an additional 235 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

NYSE BMY opened at $52.11 on Tuesday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The firm’s 50 day moving average price is $50.46 and its 200-day moving average price is $46.34. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $56.77. The company has a market cap of $105.63 billion, a PE ratio of -16.81, a P/E/G ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter last year, the company posted $1.75 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. Sell-side analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.61%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. UBS Group boosted their target price on 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 dropped their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Jefferies Financial Group raised their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, TD Cowen raised their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, fourteen have issued 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 stock currently has an average rating of “Hold” and an average target price of $53.20.

Bristol-Myers Squibb Company 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.