Bristol Myers Squibb Company (NYSE:BMY) Shares Sold by Shayne & Jacobs LLC

Shayne & Jacobs LLC cut its holdings in Bristol Myers Squibb Company (NYSE:BMY) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,513 shares of the biopharmaceutical company’s stock after selling 258 shares during the period. Bristol Myers Squibb comprises about 0.6% of Shayne & Jacobs LLC’s holdings, making the stock its 21st largest position. Shayne & Jacobs LLC’s holdings in Bristol Myers Squibb were worth $2,288,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Bristol Myers Squibb by 33.4% during the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock worth $1,116,000 after purchasing an additional 4,935 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at about $13,094,000. Proficio Capital Partners LLC purchased a new position in Bristol Myers Squibb during the 4th quarter worth approximately $240,000. Madison Investment Advisors LLC acquired a new position in Bristol Myers Squibb during the fourth quarter worth approximately $213,000. Finally, Harbour Investments Inc. boosted its holdings in shares of Bristol Myers Squibb by 0.8% in the fourth quarter. Harbour Investments Inc. now owns 29,302 shares of the biopharmaceutical company’s stock valued at $1,657,000 after acquiring an additional 235 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Trading Down 1.8%

Shares of BMY opened at $46.47 on Wednesday. Bristol Myers Squibb Company has a twelve month low of $40.09 and a twelve month high of $63.33. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. The firm has a market capitalization of $94.57 billion, a P/E ratio of 17.41, a PEG ratio of 2.42 and a beta of 0.36. The firm’s 50-day moving average is $47.43 and its two-hundred day moving average is $53.10.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.30. Bristol Myers Squibb had a return on equity of 87.62% and a net margin of 11.38%. The business had revenue of $11.20 billion for the quarter, compared to analysts’ expectations of $10.77 billion. During the same quarter in the prior year, the firm posted ($4.40) EPS. The company’s revenue was down 5.6% compared to the same quarter last year. On average, research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.34%. Bristol Myers Squibb’s dividend payout ratio (DPR) is currently 92.88%.

Insider Transactions at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of the company’s stock in a transaction dated Friday, April 25th. The stock was acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the purchase, the executive vice president directly owned 83,513 shares in the company, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on BMY. Jefferies Financial Group reduced their price target on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 target price (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 price target on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Wall Street Zen downgraded Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. Finally, UBS Group lowered their target price on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Bristol Myers Squibb presently has an average rating of “Hold” and a consensus target price of $57.69.

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.