E&G Advisors LP Sells 400 Shares of Bristol-Myers Squibb (NYSE:BMY)

E&G Advisors LP lessened its stake in Bristol-Myers Squibb (NYSE:BMY) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,451 shares of the biopharmaceutical company’s stock after selling 400 shares during the period. E&G Advisors LP’s holdings in Bristol-Myers Squibb were worth $283,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BMY. Park Avenue Securities LLC raised its holdings in Bristol-Myers Squibb by 30.8% during the 1st quarter. Park Avenue Securities LLC now owns 52,511 shares of the biopharmaceutical company’s stock valued at $2,848,000 after buying an additional 12,363 shares during the last quarter. RFG Advisory LLC raised its stake in shares of Bristol-Myers Squibb by 23.4% during the first quarter. RFG Advisory LLC now owns 22,234 shares of the biopharmaceutical company’s stock valued at $1,206,000 after acquiring an additional 4,218 shares during the last quarter. MJP Associates Inc. ADV purchased a new stake in shares of Bristol-Myers Squibb during the first quarter worth about $201,000. Ballentine Partners LLC boosted its holdings in shares of Bristol-Myers Squibb by 48.4% during the first quarter. Ballentine Partners LLC now owns 47,391 shares of the biopharmaceutical company’s stock worth $2,570,000 after purchasing an additional 15,454 shares during the period. Finally, Steph & Co. grew its stake in shares of Bristol-Myers Squibb by 33.6% in the first quarter. Steph & Co. now owns 11,457 shares of the biopharmaceutical company’s stock worth $621,000 after purchasing an additional 2,879 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BMY shares. Jefferies Financial Group increased their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday. Barclays boosted their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $48.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.20.

Bristol-Myers Squibb Trading Up 0.1 %

NYSE BMY opened at $53.22 on Friday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $57.09. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The stock’s fifty day moving average price is $50.36 and its 200-day moving average price is $46.37. The stock has a market cap of $107.88 billion, a P/E ratio of -17.17, a P/E/G ratio of 13.75 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, beating the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. Bristol-Myers Squibb’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.75 EPS. As a group, equities analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued 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 yield of 4.51%. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

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.