Finer Wealth Management Inc. Lowers Stake in Bristol Myers Squibb Company (NYSE:BMY)

Finer Wealth Management Inc. decreased its position in Bristol Myers Squibb Company (NYSE:BMY) by 17.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,047 shares of the biopharmaceutical company’s stock after selling 2,804 shares during the quarter. Finer Wealth Management Inc.’s holdings in Bristol Myers Squibb were worth $796,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in Bristol Myers Squibb by 1.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock worth $78,580,000 after purchasing an additional 13,959 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Bristol Myers Squibb during the 4th quarter worth $16,651,000. Avaii Wealth Management LLC lifted its holdings in Bristol Myers Squibb by 590.9% during the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company’s stock worth $4,794,000 after buying an additional 67,221 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Bristol Myers Squibb by 1.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company’s stock worth $3,967,000 after acquiring an additional 869 shares in the last quarter. Finally, Shorepoint Capital Partners LLC increased its holdings in shares of Bristol Myers Squibb by 2.2% in the 4th quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company’s stock valued at $3,305,000 after acquiring an additional 1,248 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol Myers Squibb Trading Down 0.1%

Shares of Bristol Myers Squibb stock opened at $45.91 on Tuesday. The company’s fifty day moving average price is $47.26 and its two-hundred day moving average price is $51.72. The firm has a market capitalization of $93.45 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 2.35 and a beta of 0.36. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11.

Bristol Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same period in the previous year, the business earned $2.07 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were given a dividend of $0.62 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.4%. Bristol Myers Squibb’s payout ratio is presently 100.00%.

Wall Street Analysts Forecast Growth

BMY has been the subject of several research analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Argus upgraded shares of Bristol Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Citigroup dropped their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. William Blair reissued a “market perform” rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Finally, Jefferies Financial Group dropped their price target on Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $56.38.

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.