Bristol-Myers Squibb (NYSE:BMY) Stake Lessened by Coastline Trust Co

Coastline Trust Co lowered its holdings in Bristol-Myers Squibb (NYSE:BMYFree Report) by 10.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,387 shares of the biopharmaceutical company’s stock after selling 1,510 shares during the period. Coastline Trust Co’s holdings in Bristol-Myers Squibb were worth $687,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Herold Advisors Inc. lifted its holdings in shares of Bristol-Myers Squibb by 3.2% in the third quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock valued at $1,954,000 after purchasing an additional 1,051 shares in the last quarter. Osterweis Capital Management Inc. raised its holdings in shares of Bristol-Myers Squibb by 69.6% during the second quarter. Osterweis Capital Management Inc. now owns 5,049 shares of the biopharmaceutical company’s stock worth $323,000 after acquiring an additional 2,072 shares in the last quarter. Kestra Private Wealth Services LLC raised its holdings in shares of Bristol-Myers Squibb by 9.5% during the third quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock worth $8,115,000 after acquiring an additional 12,121 shares in the last quarter. Metis Global Partners LLC raised its holdings in shares of Bristol-Myers Squibb by 14.8% during the third quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock worth $5,907,000 after acquiring an additional 13,122 shares in the last quarter. Finally, Jmac Enterprises LLC raised its holdings in shares of Bristol-Myers Squibb by 11.4% during the third quarter. Jmac Enterprises LLC now owns 12,171 shares of the biopharmaceutical company’s stock worth $706,000 after acquiring an additional 1,245 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Finally, William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.12.

View Our Latest Research Report on BMY

Bristol-Myers Squibb Trading Down 0.5 %

Shares of NYSE:BMY opened at $52.75 on Wednesday. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week high of $71.07. The company has a market cap of $106.91 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.60 and a beta of 0.39. The stock’s 50-day moving average is $51.08 and its 200-day moving average is $52.21. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last released its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The business had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same period last year, the business earned $1.82 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts predict that Bristol-Myers Squibb will post 6.61 earnings per share for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

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

About Bristol-Myers Squibb

(Free Report)

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.

Further Reading

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

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