Cary Street Partners Investment Advisory LLC Reduces Holdings in Bristol-Myers Squibb (NYSE:BMY)

Cary Street Partners Investment Advisory LLC trimmed its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 77.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,434 shares of the biopharmaceutical company’s stock after selling 83,306 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Bristol-Myers Squibb were worth $1,254,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in Bristol-Myers Squibb during the third quarter worth approximately $25,000. Milestone Investment Advisors LLC acquired a new stake in Bristol-Myers Squibb during the third quarter worth approximately $27,000. Blue Bell Private Wealth Management LLC boosted its position in Bristol-Myers Squibb by 61.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 525 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 200 shares during the last quarter. Legacy Financial Group LLC acquired a new stake in Bristol-Myers Squibb during the third quarter worth approximately $39,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Down 0.2 %

Shares of BMY traded down $0.08 during midday trading on Tuesday, hitting $44.56. The company had a trading volume of 6,904,352 shares, compared to its average volume of 15,860,676. The company’s 50 day moving average price is $50.93 and its 200 day moving average price is $51.02. The stock has a market cap of $90.33 billion, a price-to-earnings ratio of -14.38, a PEG ratio of 15.47 and a beta of 0.39. Bristol-Myers Squibb has a 52 week low of $43.97 and a 52 week high of $69.10. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $11.45 billion. During the same quarter in the previous year, the firm earned $2.05 EPS. The company’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts predict that Bristol-Myers Squibb will post 0.58 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.39%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Barclays decreased their price target on shares of Bristol-Myers Squibb from $51.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday. BMO Capital Markets reduced 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 report on Friday. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $60.00.

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.