Sky Investment Group LLC Trims Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Sky Investment Group LLC decreased its position in Bristol-Myers Squibb (NYSE:BMY) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,417 shares of the biopharmaceutical company’s stock after selling 371 shares during the quarter. Sky Investment Group LLC’s holdings in Bristol-Myers Squibb were worth $889,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BMY. Cascade Investment Group Inc. bought a new position in Bristol-Myers Squibb in the 2nd quarter worth about $264,000. ORG Partners LLC lifted its stake in shares of Bristol-Myers Squibb by 785.9% in the second quarter. ORG Partners LLC now owns 11,464 shares of the biopharmaceutical company’s stock worth $473,000 after buying an additional 10,170 shares in the last quarter. Riverview Trust Co grew its holdings in shares of Bristol-Myers Squibb by 42.7% during the second quarter. Riverview Trust Co now owns 4,636 shares of the biopharmaceutical company’s stock valued at $193,000 after buying an additional 1,388 shares during the last quarter. Jackson Grant Investment Advisers Inc. increased its position in shares of Bristol-Myers Squibb by 4.7% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 6,086 shares of the biopharmaceutical company’s stock valued at $253,000 after acquiring an additional 271 shares in the last quarter. Finally, Burke & Herbert Bank & Trust Co. lifted its position in Bristol-Myers Squibb by 214.1% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 15,264 shares of the biopharmaceutical company’s stock valued at $634,000 after acquiring an additional 10,405 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

Shares of NYSE:BMY traded down $0.65 during mid-day trading on Wednesday, reaching $48.41. 10,610,657 shares of the company traded hands, compared to its average volume of 15,932,638. The company’s 50 day moving average price is $43.42 and its 200-day moving average price is $46.59. The firm has a market cap of $98.13 billion, a PE ratio of -15.62, a PEG ratio of 12.51 and a beta of 0.44. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $63.41. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same period in the prior year, the business posted $1.75 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were given a $0.60 dividend. The ex-dividend date was Friday, July 5th. This represents a $2.40 annualized dividend and a dividend yield of 4.96%. Bristol-Myers Squibb’s payout ratio is -77.42%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BMY shares. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Cantor Fitzgerald reissued a “neutral” rating and issued a $45.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, July 22nd. BMO Capital Markets lowered their target price on shares of 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. Barclays lowered shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price target for the company. in a research note on Monday, July 29th. Finally, TD Cowen increased their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $54.86.

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.