Quadrant Private Wealth Management LLC Sells 2,459 Shares of Bristol-Myers Squibb (NYSE:BMY)

Quadrant Private Wealth Management LLC reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 14.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,539 shares of the biopharmaceutical company’s stock after selling 2,459 shares during the quarter. Quadrant Private Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $822,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BMY. Edmp Inc. boosted its stake in Bristol-Myers Squibb by 0.4% in the fourth quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock valued at $2,353,000 after buying an additional 171 shares in the last quarter. Trust Point Inc. raised its position in Bristol-Myers Squibb by 1.9% in the fourth quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock valued at $533,000 after purchasing an additional 172 shares during the last quarter. Horst & Graben Wealth Management LLC raised its position in shares of Bristol-Myers Squibb by 2.4% during the fourth quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock worth $426,000 after acquiring an additional 179 shares during the last quarter. Meridian Management Co. raised its position in shares of Bristol-Myers Squibb by 0.6% during the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock worth $1,463,000 after acquiring an additional 182 shares during the last quarter. Finally, Drive Wealth Management LLC increased its holdings in Bristol-Myers Squibb by 2.1% in the fourth quarter. Drive Wealth Management LLC now owns 8,878 shares of the biopharmaceutical company’s stock worth $502,000 after purchasing an additional 182 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BMY shares. BMO Capital Markets lifted their target price on Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Citigroup boosted their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Morgan Stanley boosted their price objective on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $73.00 in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb currently has an average rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Trading Down 3.8 %

Shares of BMY stock opened at $53.85 on Friday. The stock has a market capitalization of $109.22 billion, a PE ratio of -12.18, a P/E/G ratio of 2.13 and a beta of 0.45. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.10. The business has a 50-day moving average of $57.32 and a 200 day moving average of $54.03. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.81% and a negative net margin of 18.53%. As a group, sell-side analysts anticipate 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. Stockholders of record on Friday, January 3rd were given a $0.62 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.61%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is currently -56.11%.

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.