Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Franklin Street Advisors Inc. NC

Franklin Street Advisors Inc. NC decreased its holdings in Bristol-Myers Squibb (NYSE:BMY) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,615 shares of the biopharmaceutical company’s stock after selling 500 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Bristol-Myers Squibb were worth $545,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in shares of Bristol-Myers Squibb in the third quarter worth $25,000. True Wealth Design LLC bought a new stake in Bristol-Myers Squibb in the fourth quarter valued at about $26,000. Milestone Investment Advisors LLC bought a new position in Bristol-Myers Squibb during the 3rd quarter worth approximately $27,000. Coppell Advisory Solutions LLC acquired a new position in Bristol-Myers Squibb in the second quarter worth $28,000. Finally, Blue Bell Private Wealth Management LLC grew its position in shares of Bristol-Myers Squibb by 61.5% during the 3rd 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 last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Trading Up 1.8 %

Shares of Bristol-Myers Squibb stock opened at $54.23 on Friday. Bristol-Myers Squibb has a fifty-two week low of $47.58 and a fifty-two week high of $71.07. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. The firm has a market cap of $109.91 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 1.61 and a beta of 0.38. The business has a fifty day simple moving average of $50.79 and a 200-day simple moving average of $52.44.

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 analysts’ consensus estimates of $1.55 by $0.15. The business had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.82 EPS. On average, equities analysts forecast that Bristol-Myers Squibb will post 6.61 EPS for the current fiscal year.

Bristol-Myers Squibb announced that its Board of Directors has approved a stock buyback program on Thursday, December 7th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.43%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 62.18%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 1st. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the company from $77.00 to $54.00 in a report on Tuesday, February 6th. Wells Fargo & Company dropped their price objective on shares of Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 6th. Finally, Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.12.

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.