Essex Financial Services Inc. reduced its stake in Bristol-Myers Squibb (NYSE:BMY) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,820 shares of the biopharmaceutical company’s stock after selling 2,134 shares during the period. Bristol-Myers Squibb accounts for about 1.1% of Essex Financial Services Inc.’s investment portfolio, making the stock its 23rd biggest holding. Essex Financial Services Inc.’s holdings in Bristol-Myers Squibb were worth $4,830,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Delphi Private Advisors LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at $108,000. Atlantic Trust LLC bought a new position in shares of Bristol-Myers Squibb in the second quarter valued at $111,000. Massey Quick Simon & CO. LLC increased its holdings in shares of Bristol-Myers Squibb by 523.5% in the third quarter. Massey Quick Simon & CO. LLC now owns 1,777 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 1,492 shares in the last quarter. NuWave Investment Management LLC bought a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at $119,000. Finally, Horan Capital Advisors LLC. bought a new position in shares of Bristol-Myers Squibb in the third quarter valued at $122,000. 71.51% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on BMY shares. Jefferies Group set a $72.00 price target on Bristol-Myers Squibb and gave the company a “hold” rating in a report on Monday, February 26th. Bank of America lifted their price objective on shares of Bristol-Myers Squibb from $64.00 to $68.00 and gave the stock a “neutral” rating in a research report on Monday, March 5th. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Vetr cut shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating and set a $60.72 price objective on the stock. in a research report on Thursday, February 8th. Finally, BMO Capital Markets lowered their price objective on shares of Bristol-Myers Squibb from $52.00 to $51.00 and set an “underperform” rating on the stock in a research report on Tuesday, February 6th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $66.68.
Bristol-Myers Squibb stock traded down $1.43 on Friday, reaching $60.88. 6,462,049 shares of the stock were exchanged, compared to its average volume of 5,604,834. The firm has a market cap of $99,391.66, a price-to-earnings ratio of 20.23, a P/E/G ratio of 1.58 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.43. Bristol-Myers Squibb has a twelve month low of $51.56 and a twelve month high of $70.05.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Monday, February 5th. The biopharmaceutical company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.35 billion. Bristol-Myers Squibb had a net margin of 4.85% and a return on equity of 35.43%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. sell-side analysts expect that Bristol-Myers Squibb will post 3.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Friday, April 6th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, April 5th. Bristol-Myers Squibb’s dividend payout ratio is currently 53.16%.
WARNING: This news story was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another site, it was illegally copied and reposted in violation of US & international copyright and trademark law. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2018/04/08/bristol-myers-squibb-co-bmy-position-trimmed-by-essex-financial-services-inc.html.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in the various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.
Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.