Dumont & Blake Investment Advisors LLC Decreases Stock Position in Bristol-Myers Squibb (NYSE:BMY)

Dumont & Blake Investment Advisors LLC trimmed its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 12.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,942 shares of the biopharmaceutical company’s stock after selling 1,222 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its stake in Bristol-Myers Squibb by 19.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 461,514 shares of the biopharmaceutical company’s stock worth $25,028,000 after acquiring an additional 74,486 shares in the last quarter. Kathmere Capital Management LLC bought a new position in Bristol-Myers Squibb in the first quarter worth approximately $222,000. OneAscent Wealth Management LLC increased its holdings in Bristol-Myers Squibb by 5.0% during the 1st quarter. OneAscent Wealth Management LLC now owns 5,992 shares of the biopharmaceutical company’s stock worth $325,000 after purchasing an additional 288 shares during the period. Independence Bank of Kentucky raised its position in Bristol-Myers Squibb by 3.0% during the 1st quarter. Independence Bank of Kentucky now owns 10,556 shares of the biopharmaceutical company’s stock valued at $572,000 after purchasing an additional 308 shares in the last quarter. Finally, Chemung Canal Trust Co. lifted its holdings in shares of Bristol-Myers Squibb by 4.1% in the 1st quarter. Chemung Canal Trust Co. now owns 41,012 shares of the biopharmaceutical company’s stock worth $2,224,000 after buying an additional 1,604 shares during the period. Institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BMY has been the subject of several recent research reports. BMO Capital Markets restated a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Citigroup lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the company from $75.00 to $55.00 in a report on Friday. Jefferies Financial Group upped their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $53.31.

Bristol-Myers Squibb Stock Down 1.9 %

NYSE:BMY opened at $51.92 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $55.29. The company has a market cap of $105.24 billion, a PE ratio of -16.75, a P/E/G ratio of 13.75 and a beta of 0.46. The company’s 50 day moving average is $50.70 and its two-hundred day moving average is $46.44.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.75 earnings per share. Analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.62%. Bristol-Myers Squibb’s payout ratio is presently -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.