Keating Investment Counselors Inc. Has $430,000 Stake in Bristol-Myers Squibb (NYSE:BMY)

Keating Investment Counselors Inc. reduced its holdings in Bristol-Myers Squibb (NYSE:BMY) by 10.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 10,357 shares of the biopharmaceutical company’s stock after selling 1,255 shares during the quarter. Keating Investment Counselors Inc.’s holdings in Bristol-Myers Squibb were worth $430,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. ESL Trust Services LLC acquired a new position in Bristol-Myers Squibb during the 1st quarter valued at $27,000. Northwest Financial Advisors bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $27,000. LGT Financial Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 227 shares during the period. Fairman Group LLC acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth about $42,000. Finally, Redmont Wealth Advisors LLC bought a new position in Bristol-Myers Squibb during the first quarter valued at about $47,000. 76.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in 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. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Jefferies Financial Group raised their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. TD Cowen upped their target price on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, Barclays raised their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $54.67.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $48.70 on Friday. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.42. The stock has a market capitalization of $98.72 billion, a PE ratio of -15.71, a PEG ratio of 12.92 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The stock’s fifty day moving average is $45.95 and its 200-day moving average is $46.58.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS 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 firm had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same quarter in the prior year, the firm earned $1.75 EPS. The company’s revenue was up 8.7% on a year-over-year basis. Equities research analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -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.