Ledyard National Bank Acquires 393 Shares of Bristol-Myers Squibb (NYSE:BMY)

Ledyard National Bank increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,183 shares of the biopharmaceutical company’s stock after acquiring an additional 393 shares during the quarter. Ledyard National Bank’s holdings in Bristol-Myers Squibb were worth $1,600,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. OFI Invest Asset Management bought a new stake in shares of Bristol-Myers Squibb in the third quarter valued at $25,000. Milestone Investment Advisors LLC bought a new stake in shares of Bristol-Myers Squibb in the third quarter valued at $27,000. Blue Bell Private Wealth Management LLC raised 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 valued at $30,000 after buying an additional 200 shares during the period. Legacy Financial Group LLC bought a new stake in shares of Bristol-Myers Squibb in the third quarter valued at $39,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $40,000. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BMY. Barclays lowered their target price on Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. William Blair reiterated a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 15th. Finally, BMO Capital Markets decreased their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb Trading Down 0.4 %

BMY stock traded down $0.20 during trading on Monday, hitting $44.65. 16,426,560 shares of the company traded hands, compared to its average volume of 15,973,855. The firm has a market capitalization of $90.51 billion, a PE ratio of -14.40, a P/E/G ratio of 15.47 and a beta of 0.39. Bristol-Myers Squibb has a 1 year low of $44.34 and a 1 year high of $69.10. The company has a 50-day moving average of $50.93 and a 200-day moving average of $51.02. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. The company had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. Bristol-Myers Squibb’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 EPS. Analysts predict that Bristol-Myers Squibb will post 0.58 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.38%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

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.