1620 Investment Advisors Inc. Trims Stake in Bristol-Myers Squibb (NYSE:BMY)

1620 Investment Advisors Inc. reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 94.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 528 shares of the biopharmaceutical company’s stock after selling 9,491 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Bristol-Myers Squibb were worth $27,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Milestone Investment Advisors LLC bought a new stake in Bristol-Myers Squibb during the 3rd quarter valued at $27,000. Northwest Financial Advisors acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth $27,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth $34,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth $40,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter worth $40,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BMY has been the subject of a number of recent analyst reports. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. BMO Capital Markets lowered their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Societe Generale cut Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. Finally, William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock traded down $0.52 on Thursday, hitting $41.82. The company’s stock had a trading volume of 5,237,527 shares, compared to its average volume of 15,431,155. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.99 and a current ratio of 1.11. Bristol-Myers Squibb has a 1 year low of $41.58 and a 1 year high of $66.69. The firm has a fifty day moving average price of $48.24 and a 200-day moving average price of $49.80. The company has a market capitalization of $84.77 billion, a price-to-earnings ratio of -13.51, a price-to-earnings-growth ratio of 14.31 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, beating the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a positive return on equity of 8.83% and a negative net margin of 13.50%. The firm had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same quarter in the previous year, the business earned $2.05 EPS. Bristol-Myers Squibb’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bristol-Myers Squibb will post 0.59 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.40 annualized dividend and a yield of 5.74%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -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.