Bristol-Myers Squibb (NYSE:BMY) Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC lessened its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.0% in the second quarter, HoldingsChannel reports. The fund owned 99,400 shares of the biopharmaceutical company’s stock after selling 1,000 shares during the period. Cornerstone Advisors LLC’s holdings in Bristol-Myers Squibb were worth $4,128,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Citizens Financial Group Inc. RI raised its position in shares of Bristol-Myers Squibb by 29.7% during the second quarter. Citizens Financial Group Inc. RI now owns 35,203 shares of the biopharmaceutical company’s stock worth $1,462,000 after purchasing an additional 8,070 shares during the period. Mesirow Financial Investment Management Inc. raised its position in Bristol-Myers Squibb by 3.8% during the second quarter. Mesirow Financial Investment Management Inc. now owns 50,808 shares of the biopharmaceutical company’s stock valued at $2,110,000 after buying an additional 1,882 shares during the period. Quantbot Technologies LP acquired a new position in Bristol-Myers Squibb during the second quarter valued at $7,721,000. Keene & Associates Inc. raised its position in Bristol-Myers Squibb by 2.1% during the second quarter. Keene & Associates Inc. now owns 60,313 shares of the biopharmaceutical company’s stock valued at $2,505,000 after buying an additional 1,249 shares during the period. Finally, Bcwm LLC acquired a new position in Bristol-Myers Squibb during the second quarter valued at $4,720,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Price Performance

Shares of BMY stock opened at $49.13 on Monday. The stock has a 50 day moving average of $46.79 and a two-hundred day moving average of $46.47. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $60.55. The company has a market capitalization of $99.59 billion, a P/E ratio of -15.85, a P/E/G ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last announced 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 positive return on equity of 12.51% and a negative net margin of 14.06%. The company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter last year, the company earned $1.75 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.88%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Barclays upped their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Jefferies Financial Group upped their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. TD Cowen upped their target price on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft dropped their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $54.67.

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.