Cary Street Partners Asset Management LLC Reduces Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Cary Street Partners Asset Management LLC decreased its position in Bristol-Myers Squibb (NYSE:BMY) by 29.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,025 shares of the biopharmaceutical company’s stock after selling 2,050 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Bristol-Myers Squibb were worth $258,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Hexagon Capital Partners LLC lifted its position in shares of Bristol-Myers Squibb by 39.2% during the fourth quarter. Hexagon Capital Partners LLC now owns 14,041 shares of the biopharmaceutical company’s stock worth $720,000 after acquiring an additional 3,955 shares in the last quarter. Arnhold LLC raised its position in shares of Bristol-Myers Squibb by 25.3% in the fourth quarter. Arnhold LLC now owns 319,803 shares of the biopharmaceutical company’s stock worth $16,409,000 after buying an additional 64,533 shares in the last quarter. MONECO Advisors LLC raised its position in shares of Bristol-Myers Squibb by 34.6% in the fourth quarter. MONECO Advisors LLC now owns 9,689 shares of the biopharmaceutical company’s stock worth $497,000 after buying an additional 2,490 shares in the last quarter. Northcape Wealth Management LLC raised its position in shares of Bristol-Myers Squibb by 6.4% in the fourth quarter. Northcape Wealth Management LLC now owns 6,684 shares of the biopharmaceutical company’s stock worth $343,000 after buying an additional 402 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors raised its position in shares of Bristol-Myers Squibb by 107.5% in the fourth quarter. Vanguard Capital Wealth Advisors now owns 8,300 shares of the biopharmaceutical company’s stock worth $426,000 after buying an additional 4,300 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Up 0.6 %

Bristol-Myers Squibb stock opened at $44.20 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99. The firm has a 50-day moving average of $50.67 and a 200-day moving average of $50.89. Bristol-Myers Squibb has a 1-year low of $43.73 and a 1-year high of $69.10.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.53) by $0.13. The company had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. Bristol-Myers Squibb’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 earnings per share. On average, equities analysts expect that Bristol-Myers Squibb will post 0.6 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.43%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BMY shares. StockNews.com downgraded Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. BMO Capital Markets reduced their target price 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, April 26th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a research note on Monday, April 1st. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $77.00 to $54.00 in a research note on Tuesday, February 6th. Finally, Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.00.

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.