Gladstone Institutional Advisory LLC Decreases Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Gladstone Institutional Advisory LLC lowered its stake in Bristol-Myers Squibb (NYSE:BMY) by 8.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,054 shares of the biopharmaceutical company’s stock after selling 5,952 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Bristol-Myers Squibb were worth $3,679,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Reston Wealth Management LLC bought a new position in Bristol-Myers Squibb in the third quarter valued at about $25,000. Hollencrest Capital Management raised its position in Bristol-Myers Squibb by 61.3% in the third 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 period. Kennebec Savings Bank bought a new position in shares of Bristol-Myers Squibb in the third quarter worth about $28,000. Darwin Wealth Management LLC purchased a new stake in Bristol-Myers Squibb in the 3rd quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC raised 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 worth $31,000 after acquiring an additional 549 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $55.99 on Wednesday. The business’s 50 day moving average price is $57.48 and its 200-day moving average price is $53.97. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10. The company has a market cap of $113.56 billion, a P/E ratio of -12.67, a P/E/G ratio of 2.13 and a beta of 0.45. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.81%. Sell-side analysts predict that Bristol-Myers Squibb will post 6.75 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd were given a dividend of $0.62 per share. The ex-dividend date was Friday, January 3rd. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.43%. Bristol-Myers Squibb’s payout ratio is -56.11%.

Analyst Ratings Changes

BMY has been the subject of a number of analyst reports. Morgan Stanley increased their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target on the stock. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Finally, Leerink Partners raised shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $57.86.

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.