Jackson Grant Investment Advisers Inc. Sells 742 Shares of Bristol-Myers Squibb (NYSE:BMY)

Jackson Grant Investment Advisers Inc. cut its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 11.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,807 shares of the biopharmaceutical company’s stock after selling 742 shares during the quarter. Jackson Grant Investment Advisers Inc.’s holdings in Bristol-Myers Squibb were worth $298,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Verdence Capital Advisors LLC increased its holdings in Bristol-Myers Squibb by 3.5% in the 4th quarter. Verdence Capital Advisors LLC now owns 42,673 shares of the biopharmaceutical company’s stock worth $2,190,000 after buying an additional 1,433 shares in the last quarter. Lindbrook Capital LLC increased its holdings in Bristol-Myers Squibb by 17.1% in the 4th quarter. Lindbrook Capital LLC now owns 9,436 shares of the biopharmaceutical company’s stock worth $484,000 after buying an additional 1,376 shares in the last quarter. abrdn plc increased its holdings in Bristol-Myers Squibb by 27.9% in the 4th quarter. abrdn plc now owns 3,893,320 shares of the biopharmaceutical company’s stock worth $199,766,000 after buying an additional 849,839 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in Bristol-Myers Squibb by 1.5% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 268,143 shares of the biopharmaceutical company’s stock worth $13,758,000 after buying an additional 3,884 shares in the last quarter. Finally, J.W. Cole Advisors Inc. increased its holdings in Bristol-Myers Squibb by 9.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 31,831 shares of the biopharmaceutical company’s stock worth $1,633,000 after buying an additional 2,773 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BMY shares. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. Wells Fargo & Company boosted their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday. Societe Generale downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Bank of America downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. Finally, William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average target price of $61.18.

Bristol-Myers Squibb Price Performance

NYSE:BMY traded up $0.63 during trading hours on Friday, reaching $48.93. The stock had a trading volume of 10,303,913 shares, compared to its average volume of 10,788,345. The stock has a market capitalization of $99.17 billion, a PE ratio of 12.68, a PEG ratio of 1.48 and a beta of 0.39. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The company has a 50 day moving average price of $51.23 and a two-hundred day moving average price of $51.47. Bristol-Myers Squibb has a 52 week low of $47.58 and a 52 week high of $70.93.

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

Bristol-Myers Squibb Announces Dividend

The company also recently announced 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 dividend yield of 4.90%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is 62.18%.

Bristol-Myers Squibb Company Profile

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.