Aviance Capital Partners LLC Lowers Position in Bristol-Myers Squibb (NYSE:BMY)

Aviance Capital Partners LLC cut its holdings in Bristol-Myers Squibb (NYSE:BMY) by 63.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,413 shares of the biopharmaceutical company’s stock after selling 59,719 shares during the quarter. Aviance Capital Partners LLC’s holdings in Bristol-Myers Squibb were worth $1,781,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Reston Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth about $25,000. Hollencrest Capital Management raised its holdings in Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the last quarter. Kennebec Savings Bank bought a new position in Bristol-Myers Squibb in the 3rd quarter valued at approximately $28,000. Valued Wealth Advisors LLC boosted its stake in Bristol-Myers Squibb by 1,168.1% during the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 549 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in shares of Bristol-Myers Squibb in the third quarter worth $34,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $56.81 on Tuesday. The stock has a 50-day moving average price of $52.90 and a 200 day moving average price of $47.37. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08. The stock has a market capitalization of $115.22 billion, a P/E ratio of -15.82, a P/E/G ratio of 15.23 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.00 earnings per share. Equities research analysts forecast that Bristol-Myers Squibb will post 0.93 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.22%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -66.85%.

Insider Activity

In other news, SVP Phil M. Holzer sold 700 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. The trade was a 5.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley lifted their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price on the stock. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. UBS Group lifted their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $54.07.

Bristol-Myers Squibb Company 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.