Symphony Financial Ltd. Co. Trims Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Symphony Financial Ltd. Co. lessened its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 34.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,109 shares of the biopharmaceutical company’s stock after selling 3,754 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Bristol-Myers Squibb were worth $385,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Bristol-Myers Squibb during the 4th quarter worth approximately $1,560,524,000. Primecap Management Co. CA raised its holdings in shares of Bristol-Myers Squibb by 14.6% during the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock worth $1,207,549,000 after purchasing an additional 2,998,228 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Bristol-Myers Squibb by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 16,959,807 shares of the biopharmaceutical company’s stock valued at $870,198,000 after purchasing an additional 1,246,066 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Bristol-Myers Squibb by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,361,717 shares of the biopharmaceutical company’s stock valued at $582,970,000 after purchasing an additional 134,815 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Bristol-Myers Squibb by 36.7% during the 4th quarter. Franklin Resources Inc. now owns 9,357,199 shares of the biopharmaceutical company’s stock worth $480,118,000 after purchasing an additional 2,510,134 shares during the period. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Price Performance

BMY traded up $0.02 on Friday, hitting $41.53. 20,542,742 shares of the company’s stock were exchanged, compared to its average volume of 15,934,426. Bristol-Myers Squibb has a fifty-two week low of $39.63 and a fifty-two week high of $65.38. The stock has a market cap of $84.19 billion, a price-to-earnings ratio of -13.40, a P/E/G ratio of 14.20 and a beta of 0.43. The firm has a 50-day moving average price of $42.97 and a 200-day moving average price of $48.14. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly 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 firm had revenue of $11.87 billion for 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 quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.05 earnings per share. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 0.58 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a yield of 5.78%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Ratings Changes

BMY has been the topic of several analyst reports. Wells Fargo & Company raised their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Barclays cut their target price on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Societe Generale downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. William Blair reaffirmed a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Finally, StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $60.00.

Bristol-Myers Squibb 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.