Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Decreases Stake in Bristol-Myers Squibb (NYSE:BMY)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its holdings in Bristol-Myers Squibb (NYSE:BMY) by 3.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 19,588 shares of the biopharmaceutical company’s stock after selling 610 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Bristol-Myers Squibb were worth $1,037,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb in the first quarter worth about $27,000. LGT Financial Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 227 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Bristol-Myers Squibb in the third quarter worth about $34,000. MFA Wealth Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the second quarter worth about $39,000. Finally, Beach Investment Counsel Inc. PA purchased a new position in shares of Bristol-Myers Squibb in the second quarter worth about $42,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Trading Up 0.3 %

Shares of BMY stock opened at $52.68 on Thursday. 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 stock has a market capitalization of $106.79 billion, a P/E ratio of -16.99, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. The company has a 50 day moving average price of $50.98 and a 200 day moving average price of $46.48. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $55.03.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Wall Street Analysts Forecast Growth

BMY has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Jefferies Financial Group lifted their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price on the stock. Finally, TD Cowen lifted their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $52.38.

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.