Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Essex Financial Services Inc.

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.

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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%.

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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.

Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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