Bigelow Investment Advisors LLC Lowers Stake in Bristol-Myers Squibb (NYSE:BMY)

Bigelow Investment Advisors LLC reduced its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.8% in the fourth quarter, HoldingsChannel reports. The fund owned 6,005 shares of the biopharmaceutical company’s stock after selling 653 shares during the period. Bigelow Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $308,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in Bristol-Myers Squibb during the 3rd quarter valued at about $25,000. True Wealth Design LLC bought a new stake in Bristol-Myers Squibb during the 4th quarter valued at about $26,000. Milestone Investment Advisors LLC bought a new stake in Bristol-Myers Squibb during the 3rd quarter valued at about $27,000. Coppell Advisory Solutions LLC bought a new stake in Bristol-Myers Squibb during the 2nd quarter valued at about $28,000. Finally, Blue Bell Private Wealth Management LLC grew its stake in shares of Bristol-Myers Squibb by 61.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 200 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $77.00 to $54.00 in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $61.18.

Bristol-Myers Squibb Price Performance

Shares of BMY stock traded up $0.63 during mid-day trading on Friday, hitting $48.93. The company had a trading volume of 10,297,666 shares, compared to its average volume of 15,709,680. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $70.93. The stock’s 50 day moving average price is $51.25 and its 200-day moving average price is $51.57. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The company has a market capitalization of $99.17 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.44 and a beta of 0.39.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The firm had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts forecast that Bristol-Myers Squibb will post 6.63 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is 62.18%.

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.